Ohio Hemp Processor License Bond
The Ohio Department of Agriculture has established requirements of financial responsibility for certain Hemp Processors operating in the state of OH. Processors who purchase raw, unprocessed hemp plant material must obtain a surety bond to meet the financial responsibility requirement. The amount of bond required depends on the amount of material purchased by the processor in the previous calendar year.
|Amount of Hemp Material Purchased||Required Surety Bond Amount|
|$100,000 or less per year||$10,000.00|
|More than $100,000 per year||$20,000.00|
Additional information for the Hemp Processor License can be found by visiting the OH Administrative Rules regarding Hemp Cultivation and Processing - Hemp - Cultivation and Processing Rules - OAC 901:14-1 and 901:14-2
How Much Does an Ohio Hemp Processor Bond cost?
The base rate for this particular bond is typically 1-2% of the bond amount annually and is based upon the credit of the applicant/business owner. For applicants with less than perfect credit, there are programs available to provide the bond, however you should expect to see a higher annual rate.