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North Dakota Marijuana Compassion Center Surety Bond – Dispensary
What is a North Dakota Medical Marijuana Surety Bond?
A North Dakota Medical Marijuana Surety Bond is a surety bond that a marijuana dispensary is required to post after receiving notification of its eligibility to obtain a registration certificate as a “compassion center” from the North Dakota Department of Health (NDDOH).
The surety bond serves as a financial assurance that’s intended to protect the public health and the safety of the environment in the event that the dispensary owners abandon the facility or default or display an inability or unwillingness to meet the requirements of Chapter 19-24.1: Medical Marijuana.
The amount of the surety bond that an eligible compassion center must post to receive its registration varies and is determined by NDDOH, per section 19-24.1-15. Although, the total bond amount for a dispensary shall not exceed $100,000.
For a well-qualified applicant with solid credit and financial records, a surety can write a Marijuana Surety Bond in North Dakota for as low as 1% of the total bond amount, which, for a dispensary, is $1,000 or less.
Once an eligible dispensary posts the surety bond and receives its registration certificate, the dispensary is allowed to purchase usable marijuana from a manufacturing facility, dispense usable marijuana to registered patients directly or through caregivers, sell related supplies, and provide educational materials, among other permitted activities.
The NDDOH shall initially determine a preset number of compassion centers to act solely as dispensaries in the state. The department may approve additional dispensaries if the need is demonstrated based on the numbers of registered patients and caregivers. Should a registered dispensary fail to renew its registration or have its certificate revoked, the department may establish an open application period for a new dispensary.
If you need to obtain a North Dakota Cannabis Surety Bond, but the bond you need is not listed above, please call us toll-free at 1-800-480-3883. Legislation is always being updated or replaced, and we may not have had a chance to update our website yet. Furthermore, most bonds are required at the state level, but some bonds are needed at the county or city level. If you are interested in a bond that is not found here, we can still write that bond for you!