Cannabis would move to Schedule III from Schedule I under this reclassification. In a move long awaited by the cannabis industry, the Drug Enforcement Administration (DEA) has decided to re-schedule cannabis. Currently...more
In a recent legal development that underscores the intricate interplay between federal bankruptcy law and the cannabis industry, a court case has emerged involving a bankruptcy filing by an employee of a cannabis company....more
4/19/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Chapter 13 ,
Consumer Bankruptcy ,
Controlled Substances ,
Controlled Substances Act ,
Debtors ,
Dispensaries ,
Marijuana ,
Marijuana Related Businesses ,
State and Local Government
College athletes around the country may soon be in for an unexpected change in drug testing requirements. The NCAA Committee on Competitive Safeguards and Medical Aspects of Sports (CSMAS) recently showed support for removing...more
Governor Kathy Hochul’s determined efforts to combat illegal cannabis operations in New York have gained even more momentum with a new multi-agency initiative authorized as part of the 2024 Budget. The State aims to curtail...more
7/31/2023
/ Agribusiness ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Dispensaries ,
Licensing Rules ,
Marijuana ,
Marijuana Related Businesses ,
New Legislation ,
New York ,
Regulatory Requirements ,
State and Local Government
The Blunt Truth® has long covered the intersection of alcohol and cannabis. For example, just last month we explored the potential for regulatory confusion that might ensue if states begin allowing the sale of cannabis in...more
The SAFE Banking Act is no longer in the National Defense Authorization Act and therefore will not pass in this Congress. For weeks, both industry sources and Congressional sources have been predicting that SAFE would pass in...more
It has already been a busy year for marijuana law! Catch up on key legislative, regulatory, and legal developments affecting the manufacture, distribution, sale, and use of marijuana occurring in 2022, including key decisions...more
Happy New Year and welcome back as The Blunt Truth begins its seventh year of publication. ...more
The Paycheck Protection Program (PPP) loan forgiveness deadlines are quickly approaching. In order to avoid making unnecessary PPP loan payments, borrowers must submit loan forgiveness applications to their lenders within 10...more
On January 6, 2020, the Small Business Administration (“SBA”) issued its much anticipated Interim Final Rules (“IFR”) under the $2.3 trillion coronavirus relief and government funding act, the Economic Aid to Hard-Hit Small...more
On December 27, 2020, President Trump signed into law the $2.3 trillion coronavirus relief and government funding bill. In addition to other provisions, the law specifically adds $284 billion to the already successful...more
During the last two weeks, the U.S. House of Representatives passed two bills aimed at reforming marijuana laws, the Marijuana Opportunity, Reinvestment and Expungement Act (MORE Act) and the Medical Marijuana Research Act...more
The Federal Reserve Board (the “Fed”) recently released additional changes relating to the expansion of its Main Street Lending Program (the “Main Street Program”), which originally targeted small and medium-sized for-profit...more
THC, CBD, CBN…the Cannabis industry is quite familiar with acronyms. But it’s another nasty little four letters, TCPA, that are – or should be – on the top of mind for every dispensary, delivery service, CRM platform, and...more
6/22/2020
/ Class Action ,
Dispensaries ,
Marijuana Related Businesses ,
Marketing ,
Popular ,
Recreational Use ,
Robocalling ,
TCPA ,
Telecommunications ,
Telemarketing ,
Text Messages ,
Third-Party Relationships
As the Federal Reserve (the “Fed”) prepares to launch its Main Street Lending Program (the “Main Street Program”), it continues to refine program details and guidance, including based on feedback received from US banks and...more
6/11/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Federal Reserve ,
Financial Stimulus ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Popular ,
SPVs ,
Term Sheets ,
U.S. Treasury
The Federal Reserve Bank of Boston (Fed) recently issued updated FAQs, form agreements and instructions for the Main Street Lending Program (MSLP). The MSLP was established pursuant to the Coronavirus Aid, Relief, and...more
On May 27, 2020, the Federal Reserve Bank of Boston issued a trove of additional details, instructions and documentation for borrowers and lenders regarding the Federal Reserve Board’s (the “Fed”) Main Street Lending Program...more
On May 12, 2020, the Board of Governors of Federal Reserve System (the “Fed”) published a revised term sheet for the Term-Asset Backed Securities Loan Facility (the “TALF”)...more
The Federal Reserve Bank of New York (“NY Fed”) published additional guidance for the Primary Market Corporate Credit Facility (“PMCCF”) and the Secondary Market Corporate Credit Facility (“SMCCF”, and, jointly, the...more
On April 30, 2020, following a period of public comment, the Federal Reserve Board (“Fed”) published additional guidance and revisions to its Main Street Lending Program (the “Main Street Program”), expanding the program’s...more
As part of the ongoing executive and legislative efforts to address the COVID-19 pandemic, New York has issued emergency regulations temporarily suspending the cancelation of property and casualty insurance policies for...more
On April 9, 2020, the Federal Reserve Board (“Fed”) announced details of its Main Street Lending Program through which it will purchase up to $600 billion in loans from eligible lenders using funds appropriated to it under...more
Seyfarth is actively monitoring all aspects of federal legislation impacting our corporate clients based on COVID-19 business stimulus funding. We expect there to be rolling updates to these provisions based on programs yet...more
Yesterday, the Federal Reserve issued a press release announcing that it will establish new programs to support the flow of credit to employers, consumers and businesses. These new programs will provide up to $300 billion in...more
Recently, I had the opportunity to moderate panels on cannabis and commercial real estate at programs held in Los Angeles and Chicago. I won’t say it was the best of times or the worst of times, but I will say “it was the...more
2/18/2020
/ Agribusiness ,
Cannabis-Related Businesses (CRBs) ,
Commercial Leases ,
Commercial Tenants ,
Community Development ,
Controlled Substances Act ,
Dispensaries ,
Hemp Related Businesses ,
IRS ,
Landlords ,
Marijuana ,
Marijuana Related Businesses ,
Medical Marijuana ,
Property Owners ,
Recreational Use ,
Security Standards ,
Tax Liability ,
Urban Planning & Development