Marijuana regulators in Oregon adopted temporary rules for recreational cannabis business applicants to speed up the process and help ease a licensing backlog.
According to a release from the Oregon Liquor Control Commission (OLCC), which regulates licensed marijuana in the state, the rule changes are “intended to provide relief to the industry” and allow the regulators “greater flexibility” when processing applications.
Key changes include:
- Altering the definition of an applicant, including raising the ownership threshold from 10% to 20%.
- Revising license application requirements, including lessening the amount of required information. The OLCC will be collecting fewer documents and place the onus on the applicant to supply correct information.
- Adjusting notification and preapproval requirements when a licensee alters the structure of the business or financial interests. “Any change in ownership or financial interest that is below 51% no longer requires prior approval from OLCC,” the release notes, but any ownership change that is 51% or greater still requires submission of a new license application.
The OLCC is expected to finalize the rules after hearing from industry stakeholders and others.
More information and a copy of this bulletin will be available on the OLCC website under the Bulletins section.
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By mjbizdaily.com