legal counsel for marijuana law

By George F. Indest III, J.D., M.P.A., LL.M., Board Certified by The Florida Bar in Health Law

As public support grows for the legalization of marijuana in the U.S. and Canada, mergers and acquisitions lawyers should be studying up now on the ins and outs of cannabis compliance. In the U.S., there are 29 states, the District of Columbia, and the territories of Guam and Puerto Rico, which have all legalized medical marijuana. In addition, there are nine states including Colorado and Massachusetts have recently legalized the drug for recreational use.

As a result, there is expected to be a serious increase in marijuana-related mergers and acquisitions activity. Now is the time for lawyers to research and prepare for the types of problems that may arise.

Regulatory Compliance.

One of the most serious issues related to conducting business or providing legal services in the cannabis industry […]

By George F. Indest III, J.D., M.P.A., LL.M., Board Certified by The Florida Bar in Health Law

On January 4, 2018, Attorney General Jeff Sessions rolled back an Obama-era policy of refraining from prosecuting marijuana businesses and individual users in states that have legalized the drug for medicinal or recreational use. The U.S. Department of Justice (DOJ) announced this, calling the move a “return to the rule of law.”

Marijuana Criminalization.

Jeff Sessions announced the decision in a memo sent to all U.S. attorneys that highlighted marijuana’s continued criminalization under federal law. In the memo, he labeled previous DOJ guidance discouraging enforcement as “unnecessary” and “rescinded, effective immediately.”

“It is the mission of the Department of Justice to enforce the laws of the United States, and the previous issuance of guidance undermines the rule of law and the ability of our local, state, tribal […]

By George F. Indest III, J.D., M.P.A., LL.M., Board Certified by The Florida Bar in Health Law

When Florida’s medical marijuana industry was first starting to grow, business owners faced a big dilemma: Where could they find a bank to take their millions of dollars? The federal government still considers marijuana an illegal substance without medicinal value, so most banks haven’t been willing to take the industry’s money. Because of federal regulations, the businesses also cannot accept credit cards for payment, as well, making it difficult for patient to obtain medical marijuana by mail.

Despite this, First Green Bank, a Central Florida community bank that doesn’t require a federal charter, came to the rescue. By the summer of 2017, it was handling accounts for six of the state’s seven licensed producers of medical marijuana.

But now, First Green announced that it is closing the accounts […]