City of Lansing Medical Marihuana Facility License
On September 2016 the Michigan Legislature passed into law house bills 4209, 4827, and 4210 requiring all Medical Marijuana Facilities to be licensed and post a $50,000 surety bond for cultivation or dispensary for each location of operations. The express purpose of this legislation is to license and regulate medical marijuana growers, processors, provisioning centers, secure transporters and safety compliance facilities. In accordance with City of Lansing Ordinance 1217 all licensees must provide a surety bond listing the City of Lansing as the obligee in order to guarantee performance by the applicant with the terms, conditions and obligations of Chapter 1300.
The City of Lansing has classified this to be the Medical Marihuana Facilities Licensing Act (MMFLA) (no thats not a typo, they are calling it Marihuana!) and their goal is "to be as fair and efficient as possible in the selection of provisioning centers to protect the public health, safety and welfare of the residents of the City" according to Clerk Chris Swope.
What is required to qualify for a Lansing Medical Marihuana Facility License Bond?
The limited number of surety companies that will entertain this bond have set the following underwriting criteria:
- Clean, solid credit
- Liquid assets at a minimum of $100,000 per each $50,000 bond
- Experience in the Cannabis industry or designated plan to hire experienced cannabis professional
Currently the base rate for a $50,000 Marihuana License bond for Lansing is 5% per year assuming all of the above underwriting criteria are met. Apply for your Lansing Marihuana Facility Bond today, receive it tomorrow - we work fast!
Each facility location requires its own seperate surety bond. If you will need multiple bonds for multiple locations, you can complete seperate applications for each or feel free to give us a call to provide the seperate information for each location to one of our knowledgable staff.