California Requirements: Licensing Bonds for Cannabis Businesses
The Bureau of Cannabis Control has indicated through the California Code of Regulations a bond will be needed as part of the annual license application requirements under Section 5002. This means retailers, cultivators, manufacturers, distributors, laboratory testing, and microbusinesses will need to buy a bond.
Section 5008 (Bond) of the code states:
A bond is a type of insurance product with features of a loan. The face amount of the bond is paid to the party requesting their interests be protected based on certain conditions. In this situation, the State of Caifornia. Bonds are priced based on credit history, net worth, and business experience with the premium is paid annually.
Demand is likely to be strong for finding the right type of bond. Therefore, applicants are encouraged to begin the process early.
For more information, please visit Californiamarijuanabond.com