Medical Marijuana Exchange

Welcome!

Please verify your age to enter.

I am 21 or Older
I am Under 21

pequenos.pt

Baterias para Portáteis

Governor of West Virginia Signs Marijuana Banking Measure into Law

April 4, 2019
Governor of West Virginia Signs Marijuana Banking Measure into Law

Republican Governor Jim Justice on Tuesday signed an important piece of legislation into law. The measure (HB-2538) also referred to as the medical cannabis banking bill aims to allow financial institutions to participate in the bidding process for providing banking services to the licensed medical cannabis program in the state. The new law is likely to take effect immediately.

 The exact wording used in the bill (HB-2538) is as under:

"The Commissioner of Financial Institutions shall not prohibit, penalize, incentivize, or otherwise impair a financial institution from providing services to a person or entity involved in a medical cannabis-related business functioning under the Medical Cannabis Act."

It should be noted that use of medical cannabis was legalized in West Virginia back in the year 2016, but till to date, the program is not operational. As per the existing federal laws, financial institutions are not allowed to engage in any relationships with businesses in the cannabis industry.


- read the rest of the article here

Add Comment

Sponsored stories