Businesses involved in medical marijuana will soon be required to disclose foreign financial interests.
The possession and sale of medical marijuana was legalized in June 2018 with Oklahoma State Question 788 passing.
Since then, Oklahoma Senate Bill 1030 and House Bill 2612 were introduced in 2019 by various Oklahoma legislators and approved by the governor in an effort to clarify and revise medical marijuana guidelines.
Senate Bill 1030 clarified the amount of medicinal marijuana products a person could have if they have a medical marijuana card.
It also reformed legal repercussions for those who do not have a medical marijuana card and are caught with marijuana products.
House Bill 2612 gives official definitions for medical marijuana related terms such as: “dispense,”, “flower” and more. It also established the Oklahoma Medical Marijuana Authority [OMMA] “to oversee the medical marijuana program for the State of Oklahoma.
It is responsible for licensing, regulating, and administering the program as authorized by state law. Operating under the Oklahoma State Department of Health, the primary goal is to ensure safe and responsible practices for the people of Oklahoma,” according to the OMMA website.
The OMMA has approved 129,085 patients, 818 caregivers, 3,026 growers and 1,479 dispensaries.
This creates a total of 135,219 licenses issued by the OMMA. In Lincoln County alone, there are 179 licensed growers according to the OMMA list of licensed growers.
The most recent medical marijuana related bill is House Bill 2272. Brought forward by members of the house, the bill is meant to “upon the effective date of this act, current medical marijuana business licensees and applicants seeking licensure as a medical marijuana business shall be required to submit under penalty of perjury an attestation confirming or denying the existence of any foreign financial interests in the medical marijuana business operation and shall disclose the identity of such ownership, if applicable.”
This was approved by the governor on May 18 and will go into effect later this year.