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+1 815-826-6324 (815-8-BondAI) 
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Expert Surety Bonds Since 2004
Need assistance? +1 815-826-6324 (815-8-BondAI) phil@AmericasSuretyBonds.com
Expert Surety Bonds Since 2004
Ohio dispensary rules were first written by the State Board of Pharmacy, but the Division of Cannabis Control at the Ohio Department of Commerce now licenses dispensaries. Before you sign, make sure the $50,000 bond names the division that holds your license file, on the form it asks for.
This $50,000 surety bond is posted by a dispensary licensed to sell medical marijuana in Ohio, with the Division of Cannabis Control at the Ohio Department of Commerce as obligee. ORC 3796.10 requires a dispensary applicant to show sufficient liquid capital and the ability to meet financial responsibility requirements, and the bond is one way a licensee backs its obligations to the state. Confirm the current amount, form and filing steps with the division before the bond is issued.
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Ohio's medical marijuana dispensary rules in OAC Chapter 3796:6 were adopted by the State Board of Pharmacy. The Division of Cannabis Control within the Ohio Department of Commerce now licenses and regulates medical and non-medical cultivators, processors, testing laboratories and dispensaries. The current text of ORC 3796.10 refers to it as the division of marijuana control. If an existing bond names the Board of Pharmacy, ask the division whether it needs a rider or a replacement.
Under ORC 3796.10(C)(7) a dispensary applicant must demonstrate sufficient liquid capital and the ability to meet financial responsibility requirements. A $50,000 surety bond lets the licensee show that backing through a surety company instead of holding the full amount in cash.
The dispensary is the principal. The surety promises the state that the dispensary will meet the obligations the bond covers under its license and Ohio's cannabis law. If it does not, the division can make a claim up to $50,000, and the dispensary must repay the surety for anything paid out.
OAC 1301:18-2-09 sets dispensary fees at $5,000 for the initial application, $70,000 to issue a certificate of operation, and $35,000 per year to renew, which may be paid as one $70,000 sum before renewal.
Ask the Division of Cannabis Control for the current amount, the required bond form and how it wants the bond filed, then have the bond issued to match those instructions exactly.
Dispensaries are now licensed and regulated by the Division of Cannabis Control at the Ohio Department of Commerce. Ask the division whether your existing bond is still accepted or needs a rider or replacement naming the division.
ORC 3796.10(C)(7) requires dispensary applicants to show sufficient liquid capital and the ability to meet financial responsibility requirements. The bond gives the state a source of recovery if the licensee fails to meet the obligations it covers.
No. The bond premium is separate from the $5,000 application fee, the $70,000 certificate of operation fee and the $35,000 annual renewal fee set by OAC 1301:18-2-09.
The surety investigates and pays valid claims up to the $50,000 bond amount. The dispensary then reimburses the surety for what it paid.
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