Bill > H180

This bill introduces new regulations for accounts receivable (money owed between businesses) in the cannabis industry, establishing strict rules for credit transactions between licensed marijuana businesses. Under the new law, cannabis licensees will be prohibited from extending credit for marijuana or marijuana product sales for more than 60 days, with specific requirements for tracking and reporting delinquent accounts. If a licensee fails to pay within 60 days, the creditor must notify the Cannabis Commission within three days, and the commission will then publicly post the delinquent licensee's name and address on their website. Delinquent licensees will be restricted from purchasing additional cannabis products except through cash payments, and they cannot change ownership until all debts are satisfied. The bill includes provisions for potential hardship exceptions, such as businesses affected by riots, fires, or natural disasters, which can apply to the commission for temporary relief. Violations of these new rules can result in fines up to $5,000, and the regulations will apply to all credit extended after April 1, 2020. The Cannabis Commission is required to develop detailed implementation regulations within 90 days of the law's effective date.

Health and Social Services

https://malegislature.gov/Bills/194/H180