Bill > SB1057

This bill amends the Medical Marihuana Facilities Licensing Act to modify the proof of financial responsibility criteria required for medical marihuana licenses. The key provisions include: 1) Expanding the acceptable forms of proof of financial responsibility to include cash, unencumbered securities, liability insurance policies, and constant value bonds; 2) Requiring the licensee or applicant to include an attestation of compliance with the financial responsibility requirements; 3) Specifying that the proof of financial responsibility must cover bodily injuries to qualifying patients, including those caused by the intentional conduct of the licensee or its employee or agent, except for injuries caused by the licensee or its employee or agent acting with the intent to harm; and 4) Requiring the Marijuana Regulatory Agency to immediately suspend a license if the licensee fails to maintain the required proof of financial responsibility.

Government Affairs

http://legislature.mi.gov/doc.aspx?2020-SB-1057