On another matter: I recently read that the state of Georgia will be dispencing Medical Cannabis via pharmacies. Are the banks OK with these pharmacies having banking accounts with them?
Yeah, I saw that. It's a bit of a mystery to me. It seems like a bit of a risk for the pharmacy of losing their federal licensing to dispense FDA-approved pharmaceuticals - not unlike the reasons why regulated financial institutions similarly won't do business with cannabis. And then, yeah, how will their banks respond?
We bumped up against a similar issue in Massachusetts when we were consulting with an applicant on Martha's Vineyard in the first round of medical licenses. Both the skies and the waterways were federal territory. They were looking at having to produce all of their own product and to build their own analytical lab because even samples were technically illegal to transport using the ferry. I am not sure what ended up happening here, but it would be interesting to look up!
On another matter: I recently read that the state of Georgia will be dispencing Medical Cannabis via pharmacies. Are the banks OK with these pharmacies having banking accounts with them?
Yeah, I saw that. It's a bit of a mystery to me. It seems like a bit of a risk for the pharmacy of losing their federal licensing to dispense FDA-approved pharmaceuticals - not unlike the reasons why regulated financial institutions similarly won't do business with cannabis. And then, yeah, how will their banks respond?
We bumped up against a similar issue in Massachusetts when we were consulting with an applicant on Martha's Vineyard in the first round of medical licenses. Both the skies and the waterways were federal territory. They were looking at having to produce all of their own product and to build their own analytical lab because even samples were technically illegal to transport using the ferry. I am not sure what ended up happening here, but it would be interesting to look up!