Does The U.S. Cannabis Industry Turn to one Guy in Puerto Rico?

by Newsfeed

SAN JUAN, Puerto Rico, Sept. 16, 2020 /PRNewswire/ — In 1996, California became the first state to legalize marijuana for medical purposes, ending a decades long prohibition on the substance. The passage of the first recreational cannabis use laws in Colorado and Washington left those two states with a problem. How should a recreational drug business be regulated? Like many occupations with significant statutory licensing frameworks, new cannabis regulators promulgated rules that obligate cultivators, processors and dispensaries to offer a sort of financial assurance. In the United States that financial guarantee took the form of a surety bond.

A surety bond is a third-party guarantee that a principal, in this…

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