Yes, medical marijuana has been approved. Yes, licenses are availble, and yes, an applicant must file an Ohio marijuana dispensary bond in order to obtain a license to operate. Pursuant to Ohio Code, the State Board of Pharmacy is permitted to issue up to sixty provisional licenses. That rule expires on September 8th, 2018, at which time the Board will review the population of the state, the number of patients seeking to use medical marijuana and the geographic distribution of dispensaries in order to ensure patient access to medical marijuana. The Board may increase or decrease the number of licenses accordingly.
In efforts to ensure a cannabis operator's financial responsibility, an Ohio medical marijuana dispensary bond must be posted to guarantee that the dispensary will comply with tax requirements and conducts the dispensary operations in accordance with Chapter 3796. of the Revised Code as well as rules promulgated by the Board. Pursuant to 3796:6-2-11, the surety bond must be issued in the amount of fifty thousand dollars ($50,000), name the dispensing organization as principal of the bond and naming the State Board of Pharmacy as the obligee (beneficiary). The bond must be written by a surety company with a certificate of authority issued by the State of Ohio. The full business name and registration number manuscripted in to the bond must match the business name and registration number in the Board's records. The form and language must be approved and a copy received by the Board within ninety (90) days after the effective date of the provisional license issuance. In addition to the dispensary bond and marijuana enterprise insurance we also offer:
The Board has created a special web portal dedicated to the medical marijuana sector (Ohio MMCP). The site contains detailed information regarding licensing and operation, as well as a copy of all pertinent statutes. Further requests and license submissions may be directed to:
77 South High Street, 17th Floor
Columbus, OH 43215
Ohio surety bond leader, SuretyOne.com is the most responsive underwriter of marijuana business license bonds and the insurance coverages needed by the sector. We firmly believe in supporting the availability of cannabis products to patients that enjoy a better quality of life from them. We will consider applications for dispensaries and grow operations in all states where current legislation favors legal marijuana businesses. For further information about an Ohio marijuana dispensary bond contact us at (800) 373-2804, email Underwriting@SuretyOne.com or chat with us live here.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.