The Green Industry is one of the fastest-growing sectors in the United States. It is expected to put up to $130 billion on an annual basis into the U.S. economy by 2024.
The attorneys at Singer Law provide Iegal services to cannabis clients throughout the State of New Jersey.
At the cannabis law firm of Singer Law, our knowledgeable and adept attorneys have helped entrepreneurs navigate and master the complex medical commercial cannabis regulatory framework in New Jersey, and is now poised to focus on helping everyone in the adult-use recreational arena.
New Jersey recently passed the Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act (“CREAMMA”). Among other things, CREAMMA permits adults 21 years and older to consume cannabis and allows New Jersey residents to operate six types of cannabis businesses within the state. The new adult-use marketplace, as well as the already established medicinal marketplace, will be administered by the Cannabis Regulatory Commission (“the CRC”). The CRC is a panel of five appointed members who will oversee the development, regulation, and enforcement of the use and sale of all legal cannabis in New Jersey.
The CRC recently approved its first set of rules and regulations on August 19, 2021. This will enable the start of the licensing process for personal adult-use cannabis operations in New Jersey. Here are the 15 takeaways from the initial rules and regulations:
What type of license can I apply for?
There are six different license types:
Class 1 – Cannabis Cultivator License
Class 2 – Cannabis Manufacturer License
Class 3 – Cannabis Wholesaler License
Class 4 – Cannabis Distributor License
Class 5 – Cannabis Retailer License (also includes consumption lounges)
Class 6 – Cannabis Delivery License
Businesses may also apply for a license to operate a cannabis testing facility or medical cannabis testing laboratory. License-holders may hold multiple licenses concurrently; however, there are limitations on the number and type of licenses that may be held concurrently.
Are there any caps on the number of licenses that may be awarded?
The State only placed a cap on Class 1 licenses for cultivators. In particular, there will be a statewide cap of a total of 37 cultivators until February 22, 2023. Keep in mind that state limits aren’t the end of the inquiry; municipalities may set restrictions on the number of businesses in their jurisdiction.
Whether you are interested in opening, buying, or investing in a cannabis business in New Jersey, a CBD or other non-THC cannabinoid business, the cannabis lawyers of Singer Law are here to provide understanding, guidance, legal services, and industry connections. Contact Singer Law today to schedule a consultation so we can learn more about your business and determine the best way forward!
LEGAL SERVICES FOR BUSINESS CLIENTS INCLUDE:
• Corporate/entity formation
• Help with all aspects of the New Jersey and local application processes for medical and retail licensure, including licensing for growing, handling, and selling (both wholesale and retail) marijuana.
• Representation at Licensing hearings
• Assistance in developing a legally compliant business plan
• Defense of Administrative Actions, including citations and notices of revocation
• Development of legally compliant investment and funding models
• Regulatory and Compliance Training
• Contract Review, including real estate purchases, business purchase agreements, and leases
• Due Diligence checks for license acquisitions
• Contract Drafting, including investment documents, purchase agreements, and employment contracts
