On August 25, 2022, New York Office of Cannabis Management opened up the applications for CAURDs. The application portal can be found here. OCM has designed the application to be able to be completed without professional assistance. However, these licenses are highly desired and the process is highly competitive, and it is good business practice to have a solid team of professionals (like an accountant, a New York cannabis business lawyer, retail management, cannabis advisors, branding and marketing consultants, design consultants and the like), as early on the process as possible.
The applicant business must be majority-owned (at least 51%) by justice involved individuals. One of the individuals holding at least 30% of the applicant must be owned by an individual who: (1) is justice involved; (2) has qualifying business experience; (3) has sole control of the business; and (4) has significant presence in New York. Qualifying business experience means having owned at least 10% of a business that had net profit for any two (2) of the years the business was in operation.
A justice involved individual is someone who: (1) was charged with a cannabis-related offense in New York State before March 31, 2021; (2) has a parent, legal guardian, child, spouse, or dependent who was charged with a cannabis-related offense in New York State before March 31, 2021; or (3) was the dependent of someone who was charged with a cannabis-related offense in New York State before March 31, 2021, and the person charged resided in New York at the time of arrest.
The application window closes on September 26, 2022.
See my earlier article, “New York Fast-tracks Conditional Adult-use Cannabis Retail Dispensary (CAURD) Licenses for “Justice Involved” Individuals“, for more details. The above is only a part of the information required to be submitted for a CAURD license.
It is best to discuss your proposed business with a New York Cannabis Business Lawyer. Please feel free to contact us if we can be of any assistance or answer any questions.
**This post is for informational purposes only, For legal advice, contact a Canna Business Lawyer**
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