Glover Law

HB 1191: Banking Services for Medical Marijuana Treatment Centers

General Bill by Silvers

Revises definition of term "financial institution" to include certain medical marijuana limited charter banks or credit unions; establishes Medical Marijuana Limited Charter Bank & Credit Union Advisory Board within OFR; provides duties of DOH & board; requires medical marijuana limited charter bank or credit union license for certain purposes; prohibits transfer or assignment of licenses; provides application requirements; requires commission to adopt rules, & authorizing commission to adopt emergency rules; provides requirements for medical marijuana limited charter banks & credit unions; provides authorized & prohibited acts by medical marijuana limited charter banks & credit unions.

Effective Date: 7/01/2019

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