California Offers First Cannabis Surety Bond to Pr
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Posted On: 02/27/2018 10:02:55 AM
Re: times2times2 #264
California Offers First Cannabis Surety Bond to Protect Nascent U.S. Industry:
The state's budding cannabis industry gets a push in the right direction via a new surety bond issuance.
Surety bonds provide cannabis industry players of a way to make sure they can comply with relevant regulations. For instance, if a company's product was contaminated, the bond would allow the company to cover costs of destroying or otherwise disposing of the product. Such material could not just be thrown in the trash.
In the case of California, the insurance regulator department appears aggressive in its support for the cannabis industry -- and making sure it's properly insured.
https://www.thestreet.com/story/14501469/1/ca...arket.html
The state's budding cannabis industry gets a push in the right direction via a new surety bond issuance.
Surety bonds provide cannabis industry players of a way to make sure they can comply with relevant regulations. For instance, if a company's product was contaminated, the bond would allow the company to cover costs of destroying or otherwise disposing of the product. Such material could not just be thrown in the trash.
In the case of California, the insurance regulator department appears aggressive in its support for the cannabis industry -- and making sure it's properly insured.
https://www.thestreet.com/story/14501469/1/ca...arket.html
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