Bill > SB479

This bill modifies New Hampshire's laws regarding alternative treatment centers (ATCs) for cannabis, primarily by allowing these centers to operate on a for-profit basis in addition to their current not-for-profit status. The bill expands the definition of alternative treatment centers to include domestic business corporations and limited liability companies, in addition to voluntary nonprofit corporations. It permits ATCs to convert between different business entity types (such as from a voluntary corporation to a business corporation or LLC) through specific processes, including plans of entity conversion or merger. The legislation requires that any such conversion include a provision prohibiting the sale of memberships or shares to foreign corporations for three years and must be approved by a two-thirds vote of the board of directors. The bill also specifies that converted ATCs will maintain their existing licenses, and provides detailed procedural requirements for these conversions, including filing with the secretary of state. The changes aim to provide more flexibility in the organizational structure of alternative treatment centers while maintaining regulatory oversight. The bill will take effect 60 days after its passage, and the Department of State anticipates a one-time expenditure of $13,000 to implement the necessary administrative changes.

Justice

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1228&inflect=2