One Year of Success = Eligibility for Recreational Sales
Video Transcribed: Who will be able to acquire the recreational marijuana business license? I am Ope Adegbuyi, a marijuana business attorney in Oklahoma.
According to State Question 820, for the first two years, the OMMA would only accept adult-use license applications from businesses that have held a medical marijuana business license for at least one year. This means that only businesses that were operational for the past year from when the initiative has been passed. So whenever, if people vote yes, one year from that or prior to that date, only businesses that have been operating then would be allowed to apply for a recreational business license, and this would last for two years.
So this means that if you sell your business, the person who buys it would be able to get a new recreational license if that business that they bought has been in business or operational for the past year. However, if you sell your license to a business, if your business has just opened, you would not be able to get the license or the recreational license.
For more information, you can contact me, a Tulsa marijuana business regulation lawyer, at oklahomamedicalmarijuana.attorney.