Ukrainian Law Blog
Freedom means the supremacy of human rights everywhere
Friday, May 11, 2018
On the Fringe of California Cannabis Investing: Avoiding “Ownership” and “Financial Interests”
Passage of California’s Medicinal and Adult-Use Cannabis Regulation and Safety Act (“
MAUCRSA
“) has opened the doors to institutional investing in California cannabis companies. California’s lack of a residency requirement for investors and its relatively limited investor disclosure and background requirements have made it popular for institutional investors looking to invest in cannabis. In that sense, California is building out its program to mirror wide-open states like Oregon, and not protective states like Washington.
There are two main types of California cannabis applicants: owners and financial interest holders. To be legally considered an “owner” under California’s cannabis regulations, one does not actually need equity in the applicant’s cannabis business. “Owner” means any of the following:
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