Maine Retail Marijuana Surety Bonds

In the state of Maine, retail marijuana dispensaries are legally required to obtain a marijuana surety bond. In order to sell marijuana, the state of Maine requires licensure to be obtained. Stores, cultivation facilities, social establishments and all other marijuana entities are legally required to acquire a surety bond, which guarantees that adherence to state laws and regulations as they relate to the marijuana retail establishments and practices. 

Conditions Of Maine Marijuana Surety Bond

Under Maine Legislation, SP0520 LD 1491, the following conditions must be met by the retail marijuana establishment in order to obtain state licensing: 

• Applicant must be a resident of Maine for at least two years
• Applicant must be at least 21 years of age
• The applicant may not also be the principal owner of an applicant for a retail marijuana testing facility license and/or have a license 
• The surety bond company must be licensed to conduct business in the state of Maine
• The bond is required to be payable to the state licensing authority 

How Much Does A Maine Marijuana Surety Bond Cost?

The cost of a marijuana surety bond in Maine varies but is typically between 1 percent and 5 percent of the entire bond amount. There are numerous retail surety bonds for specific establishments, all of which vary in costs:

• Retail marijuana social establishment or club: $500,000
• Retail marijuana cultivation facility: $500,000
• Retail marijuana cultivation facility with 3,000 sq. feet of plant canopy (or less than): $600,000
•  Retail marijuana cultivation facility with 3,000 sq. feet of plant canopy (or more than): $1,100,000
• Retail marijuana products manufacturing facility: $600,000
• Retail marijuana testing facility: $800,000

How To Obtain A Maine Retail Marijuana Surety Bond?

Contact ProSure Group! Our surety agents in Florida offer professional advice and warrant surety bonds to marijuana retail establishments. Our agents will work with you to complete all of the necessary documents and paperwork so underwriting can begin. After underwriting and all documents are completed, your Maine retail marijuana surety bond will be issued!