Special Report

Cannabis and the Legal Industry: New Rules, New Risks, New Opportunities

The state-by-state legalization of marijuana for medical and recreational use has created a complicated legal landscape—and with it new demands for lawyers to responsibly advise cannabis clients and companies in adjacent industries. This special report features Law.com's in-depth coverage of emerging legal issues, key regulatory developments, and the lawyers who are helping to shape a new industry.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
CBD Oil

Much of the discussion this past legislative session focused on the legalization (or expanded decriminalization) of “adult-use” cannabis. However, one piece of cannabis legislation flew under the radar. A bill establishing a new regulatory framework for one of the state’s fastest growing industries successfully navigated its way through both houses of the New York State Legislature. But unlike adult-use cannabis, this type of cannabis will not get you “high.” We’re talking about hemp, of course, and hemp-derived cannabinoids—the most recognizable of which is cannabidoil or “CBD.”

On the final day of New York’s legislative session, the Legislature passed bill A7680-A/S6184-A. If signed by Governor Andrew Cuomo, this legislation will establish one of the most comprehensive regulatory frameworks for hemp and hemp extracts in the country. The legislation was introduced this past January as part of Cuomo’s proposed budget and sponsored by State Senator Jennifer Metzger (D-42) and Assembly member Donna Lupardo (D-123). As of the date of this article, the legislation has not yet been delivered to the governor for his signature or veto.

If enacted, bill A7680-A / S6184-A could significantly impact the burgeoning hemp industry in New York by adding new regulatory requirements. Here’s a summary of some of the legislation’s more notable provisions.

License Requirements

First, the legislation requires all cannabinoid growers, manufacturers and extractors to obtain a license through the New York Department of Agriculture and Markets (the department). The legislation also requires a license for any cannabinoid products intended for “human or animal consumption or use,” the latter term not being defined. The cannabinoid extractor license is the most comprehensive, permitting the licensee to acquire, possess, manufacture and extract hemp for products intended for human and animal use. Licenses will be renewed on a biennial basis, and licensed premises are subject to random inspection by the department.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.