Jacob Bell
New Member
New laws regulating the Colorado medical marijuana industry could force many dispensaries and grow operations to close their doors when the rules go into effect on July 1, according to an attorney with expertise on the matter.
"I think it's going to be the law of unintended consequences," said Cliff Black of the Black & Graham law firm in Colorado Springs. "It's going to shut a lot of businesses down. The ones that stay are still going to have to compete with the black market and the black market is going to have the hands-up because they don't have the economic hurdles to jump over."
The comprehensive new regulations -- nearly 80 pages worth, signed into law by Gov. John Hickenlooper last week -- cover every aspect of the medical marijuana industry from planting of the seeds to sale of the product to patients. Security and inventory control are paramount. Nearly every inch of a grow operation and dispensary must be under video surveillance 24 hours a day, 7 days a week. Purchasing and installing the necessary cameras, monitors, and recording devices can cost tens of thousands of dollars. New labeling requirements for foods and infused products require information including where the product came from and batch numbers. For dispensaries struggling to make a profit, it could be prohibitively expensive. "I don't see how anybody could actually survive in this business," Black said.
News Hawk- Jacob Ebel 420 MAGAZINE
Source: newsfirst5.com
Author: Zach Thaxton
Contact: Contact Us
Copyright: KOAA
Website: New medical marijuana laws may force many dispensaries to close
"I think it's going to be the law of unintended consequences," said Cliff Black of the Black & Graham law firm in Colorado Springs. "It's going to shut a lot of businesses down. The ones that stay are still going to have to compete with the black market and the black market is going to have the hands-up because they don't have the economic hurdles to jump over."
The comprehensive new regulations -- nearly 80 pages worth, signed into law by Gov. John Hickenlooper last week -- cover every aspect of the medical marijuana industry from planting of the seeds to sale of the product to patients. Security and inventory control are paramount. Nearly every inch of a grow operation and dispensary must be under video surveillance 24 hours a day, 7 days a week. Purchasing and installing the necessary cameras, monitors, and recording devices can cost tens of thousands of dollars. New labeling requirements for foods and infused products require information including where the product came from and batch numbers. For dispensaries struggling to make a profit, it could be prohibitively expensive. "I don't see how anybody could actually survive in this business," Black said.
News Hawk- Jacob Ebel 420 MAGAZINE
Source: newsfirst5.com
Author: Zach Thaxton
Contact: Contact Us
Copyright: KOAA
Website: New medical marijuana laws may force many dispensaries to close
