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#1 2018-02-28 18:39:48

HumboldtGrower
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Registered: 2018-02-24
Posts: 48

What is a Cannabis Suetry Bond?

Here’s what you need to know:

Surety bonds are required for California applicants seeking licenses in most sectors of the cannabis industry.

Most of the state’s licensed cannabis businesses are required to have a $5,000 surety bond.

Marijuana surety bonds are often required by states with legal cannabis programs.

According to Surety Bond Authority, a marijuana surety bond is an agreement between obligee, principal and surety. In this case, the obligee is the state agency or city regulation department requiring the bond; the principal is the marijuana business seeking the bond; and the surety is the bond underwriter/provider backing the business to the state or city regulator.

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