Insights: Cannabis in Oklahoma
June 22, 2018
June 22, 2018
Contributing Writer: Alex Bibisi
On June 26, 2018 the citizens of Oklahoma voted YES on an initiative to allow medical marijuana throughout the state.
Start Planning Now:
For those interested in opening a medical marijuana business in Oklahoma, the time to start planning is now.
While it is still early in the process, and licensing is non-competitive, the time to start putting your business plan together to apply for a business license is now. As with any new medical state, the most successful businesses in Oklahoma will be those that start early with a clear strategy and a detailed business plan.
Learn 4 Steps to Get Started in New Cannabis States
Because the licensing process isn’t competitive, the challenges for cannabis businesses operating in Oklahoma will be in planning compliant, scalable facilities and setting up efficient operations to run smoothly and sustain long-term success.
The Oklahoma legislature passed proposed permanent rules that will govern the program and the regulations are slated to go into effect in August 2019. The Department is now accepting applications for growers, processors/packagers, dispensaries/retailers, and transporters. There is no limit on the number of licenses that may be issued, and licenses must be issued to any applicant who meets the requirements in the law. No license may be issued to any entity with more than twenty-five percent ownership by non-Oklahoma residents.
Under the initiative, patients will be able to possess up to 3 ounces of marijuana, 1 ounce of concentrate, and 72 ounces of edibles on their person. At home, patients may possess up to 8 ounces of marijuana, along with 6 mature plants and 6 seedling plants. Local governments may pass laws allowing patients to possess more marijuana than these amounts.
The initiative allows doctors to recommend a patient for any medical condition, so long as the recommending physician uses “accepted standards a reasonable and prudent physician would follow.”