{"id":379,"date":"2017-09-11T00:00:00","date_gmt":"2017-09-11T04:00:00","guid":{"rendered":"http:\/\/baronedefensefirm.lawblogger.net\/blog\/michigan-medical-marijuana-must-obtain-business-insurance\/"},"modified":"2025-01-08T14:38:04","modified_gmt":"2025-01-08T18:38:04","slug":"michigan-medical-marijuana-must-obtain-business-insurance","status":"publish","type":"post","link":"https:\/\/www.baronedefensefirm.com\/blog\/michigan-medical-marijuana-must-obtain-business-insurance\/","title":{"rendered":"Michigan Medical Marijuana Licensees Must Obtain Business Insurance"},"content":{"rendered":"

If you are interested in obtaining one of Michigan\u2019s five commercial Medical Marijuana licenses, then as part of the application process you will need to demonstrate that you have the financial ability to obtain and maintain adequate premises liability and casualty insurance for its proposed marihuana facility.\u00a0 See <\/em>MCL \u00a7 333.27402(2)(e).\u00a0 What is \u201cadequate\u201d is not otherwise defined by statute, though it may be set for the administrative rules when they are promulgated later this year.<\/p>\n

LARA and the Michigan Medical Marijuana Board have the right to set rules when necessary that are related to the administration, implementation, and enforcement of the Michigan Medical Marihuana Act. Some examples of appropriate rules include setting appropriate standards for marijuana facilities and their equipment. In addition, they can establish minimum insurance levels that licensees must meet.<\/p>\n

Also, the Medical Marijuana Act specifically requires that you obtain insurance to reimburse someone for bodily injury suffered because of the manufacture, distribution, transportation, or sale of adulterated marijuana or adulterated marijuana-infused product. The insurance must be for at least one hundred thousand ($100,000.00) dollars. However, since obtaining insurance can be difficult considering marijuana remains a “schedule 1” drug, the proof of financial responsibility may be in the form of cash or unencumbered securities or a constant value bond. You are not allowed to cancel your insurance as required unless you give 30 days\u2019 notice to the department, and provide a reasonable and acceptable substitute. See<\/em> MCL \u00a7 333.27408 Proof of financial responsibility<\/em>.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

If you are interested in obtaining one of Michigan\u2019s five commercial Medical Marijuana licenses, then as part of the application process you will need to demonstrate that you have the financial ability to obtain and maintain adequate premises liability and casualty insurance for its proposed marihuana facility.\u00a0 See MCL \u00a7 333.27402(2)(e).\u00a0 What is \u201cadequate\u201d is […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,4],"tags":[],"class_list":["post-379","post","type-post","status-publish","format-standard","hentry","category-dui-stops","category-marijuana-laws"],"yoast_head":"\nMichigan Medical Marijuana Licensees Must Obtain Business Insurance<\/title>\n<meta name=\"description\" content=\"Michigan Medical Marijuana attorney Patrick Barone discusses the requirement of marijuana businesses to obtain insurance for 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