Exceptional and accessible legal representation across Kentucky and Nationwide

Exceptional and accessible legal representation across Kentucky and Nationwide

EXCEPTIONAL AND ACCESSIBLE LEGAL REPRESENTATION ACROSS KENTUCKY AND NATIONWIDE

What Colorado cannabis companies need to know about the changing laws

On Behalf of | Mar 2, 2022 | Business Law |

The perception held by much of the United States is that Colorado is a marijuana free-for-all, that anyone can freely sell marijuana in the streets with impunity. However, anyone running a dispensary or any kind of marijuana business in the state knows the strict regulations involved with the industry. Failure to comply with the numerous laws and regulations can result in serious sanctions and potentially the loss of your operating license.

It is critical for any marijuana business to understand the complex changing laws regulating the industry.

Recent legal changes

This year brings some important changes for Colorado marijuana businesses to note. As reported by the Denver Post online, the laws regulating marijuana businesses in Colorado are more strict, starting this year with a new bill passed into law, effective January 1, 2022.

Key provisions for cannabis businesses

While many of the new provisions involve review and analyses by the school of public health, there are some key provisions for marijuana companies in the state.

Specifically, the new law:

  • Prohibits advertising medical marijuana to anyone under age 20
  • Requires marijuana concentrate advertising to include warnings regarding overconsumption
  • Requires marijuana stores (both medical and retail) to provide tangible educational resources regarding marijuana concentrate
  • Requires in-depth record tracking of patient data, sales data and user data information, especially as it regards exceeding purchase limits and potency limits
  • Limits quantity (generally 8 grams per day; 2 grams if patient is between 18 and 20 years old) and potency of medical marijuana concentrate daily purchases

Each of these new provisions involve various nuances, complications and challenges with implementation.

The importance of compliance

It is critical for marijuana businesses to understand the new legal changes in the industry and to get up to date with compliance measure immediately. These new laws are already in place. Failure to comply could be catastrophic for any marijuana business in Colorado.