Industrial Hemp and CBD Oil in Michigan
Michigan’s new recreational marijuana regulation, Proposal 1, also allows for the cultivation of industrial hemp, an important agricultural crop that can be used to produce a variety of commercial products, including paper, textiles, biodegradable plastics, paint, insulation, biofuel, food, and animal feed. (https://www.regulatemi.org/about/proposal-1/). Because of the widespread awareness concerning the incredible wellness benefits, CBD, a hemp oil extra, is the one of the most popular hemp products of choice today.
A CBD oil business is generally run out of a place where the oil is manufactured. Industrial hemp business operating out of a physical location typically require a Certificate of Occupancy (CO). A CO confirms that all the legal concerns, such as building codes, zoning laws and government regulations, have been satisfied or taken care of. If you plan to lease a location instead of purchase property, the landlord is typically responsible for obtaining the Certificate of Occupancy. It is advised that you confirm that your landlord has or can obtain a valid CO that is applicable to a CBD oil business and it is recommend to include language in your lease agreement stating that lease payments will not commence until a valid CO is issued.
Although the capacity for profit is attractive, CBD business owners need to account for the cost of farming, insurance, licensing and staff salaries. They may also want to hire a cannabiz or marijuana lawyer to keep up on the rapidly changing laws pertaining to marijuana and hemp within the state of Michigan.
Prior to submitting applications to the department of Licensing and Regulatory Affairs it is important to consult with an attorney. When considering whether to open a marijuana related business in Michigan it is important to consult with an attorney to ensure compliance with the MMMA and MRTMA. Great Lakes Bay Legal Consulting, Attorney Nathan J. Collison can assist individuals and business with licensing applications and CannaBusiness planing. Schedule a Consultation Today.
Attorney Nathan J. Collison is the 4th generation of his family to provide industry leading legal services in the Great Lakes Bay region, and Great Lakes Bay Legal Consulting continues that tradition. We build relationships based on your individual needs and goals. Our focus is on excellence, integrity, and you.