Guidance On How To Open A Cannabis Dispensary In New York, That Is, When The Time Comes

Last week, the New York Office of Cannabis Management (OCM) provided guidance for those seeking to operate within the state’s recreational market.

The move represents “a clear sign” that the agency is “gearing up” to issue CAURD licenses, says Harris Bricken’s Simon Malinowski.

Guidance for Adult-Use Dispensaries,” a series of regulations for Conditional Adult-Use Retails Dispensary (CAURD) licensees and applicants, was released on Friday, following Gov. Kathy Hochul’s recent remark that New York is “on track” to kick off cannabis sales within months, building on her previous promise that the state would launch 20 dispensaries by the end of 2022, reported The City.

In January, Hochul published an extensive State of the State book, laying out the plan for 2022, including support for social equity applicants within the state’s burgeoning marijuana market with $200 million.

The Regulations

Meanwhile, the document features requirements and operational rules covering everything from operations to sales, delivery and distribution while providing insight into the OCM’s plans for issuing licenses.

“[T]his guidance document serves to provide the framework that will assist [CAURD] licensees in planning for how to operate their dispensary before regulations are formally adopted,” the document says.

However, the guidelines provided by OCM are not yet adopted and enacted as rules, allowing regulators to make additional changes.

It only “provides clarity on what the [OCM’s] expectations are in relation to those regulations and laws currently in place and the regulations that will be promulgated in the future,” the document says.

So, stay tuned!

Photo: Courtesy of Add Weed on Unsplash

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisGovernmentNewsRegulationsPoliticsMarketsGeneralGuidance for Adult-Use DispensariesKathy HochulmarijuanaNew York Office of Cannabis ManagementSimon Malinowski
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on bzcannabis.com – Prices will increase very soon!


Loading...