All Records Shall Be Maintained For Seven Years From The Date Of Creation

Video Transcribed:  Oklahoma Attorney Isaiah Brydie coming at you with another video, and this video is going to still be a continuation of the new OMMA medical marijuana authority rules and regulations. Starting at page 27, records. Going down a couple of sentences we see here, except as otherwise specifically provided in Oklahoma law and this chapter, all records shall be maintained for at least seven years from the date of creation. So what do they mean when they mean records?

Well, let’s go down here. One, business records which shall include but are not limited to employee records, organizational documents such as your operating agreement or your corporate bylaws, tax records, journals, ledgers, supporting documents, checks, invoices, receipts and vouchers, and additionally as applicable any documents related to the processing, preparation and/or testing of medical marijuana and medical marijuana products including but not limited to, lab reports, test records, equipment inspections, training materials and standard operating procedures.

So there we see a lot of things that are referenced to that some of you business owners may have to eventually get as far as best business practices. Going on from there, documentation of every instance in which the medical marijuana was sold or otherwise transferred to, or purchased, or otherwise obtained from another licensee, which shall include but is not limited to these things going forward here.

The name, license number, address, phone numbers of all the licensees involved in each transaction, the quantity and type of medical marijuana or medical marijuana product, the batch number of the medical marijuana sold, the date of the transaction, the monetary value of the medical marijuana or medical marijuana product involved in the transaction, including the total sale or purchase amount, all point of sale tax records. Whew, that’s a big one. And all inventory manifest and other documentation related to the transport of medical marijuana and medical marijuana products.

So that’s basically asking for that shipping manifest from that transporter of the medical marijuana. You need to get a copy of that. If you want to have more information on how that’s going to look under these new rules, please go to how the transportation entity and how the transportation license itself is going to change under these new proposed rules. So again, these are the new information as far as records and records keeping for a medical marijuana business in the state of Oklahoma. Be sure to tune into my next video. See you guys later.