Select A Bond By StateSelect A Bond TypeRequest A Free Quote
Oklahoma Marijuana Establishment Surety Bond
What is an Oklahoma Medical Marijuana Bond?
An Oklahoma Medical Marijuana Bond is a $50,000 surety bond that is required to be posted before an entity receives a license to operate a marijuana establishment. The price of the surety bond depends on the applicant's credit report and financial strength. Those with strong financial credentials can qualify to pay as low as 1% of the total bond amount.
The surety bond guarantees payment to the obligee for any monetary penalties the licensee incurred during operations. The bond also covers any costs stemming from the disposal of unused marijuana, marijuana products, hazardous materials, or other waste.
The Oklahoma Medical Marijuana Authority, a division of the Oklahoma State Department of Health, has the authority to regulate marijuana licensees. The Oklahoma State Department of Health is the Obligee on the bond.
Licenses are available for Oklahoma residents who are at least 25 years old. Applicants must provide documents establishing the applicant; and the members, managers, and board members, if applicable; and 75% of the commercial applicant's ownership interests are Oklahoma residents as required in the Oklahoma Medical Marijuana and Patient Protection Act, 63 O.S. § 427.1 et seq.
Grower license applicants must submit proof of one of the following to OMMA:
A surety bond for at least $50,000 per license; or
Proof that the licensee has owned the licensed premises for at least 5 years.
If you need an Oklahoma Cannabis Surety Bond but don't see it above, please call our toll-free number, 1-866-595-6595. Legislation is always changing, and we might not have had the opportunity to update our website yet. The majority of bonds are required at the state level, although some are needed at the county or city level. Regardless of whether it is listed or not, we can write the bond!
