Articles Tagged with Los Angeles hemp lawyer

A historic cannabis banking bill was recently passed by House legislators hoping to secure a safe haven for financial institutions that serve hemp and hemp-made CBD companies. Los Angeles hemp business attorneys know this key measure is necessary, despite the passage of the 2018 Farm Bill that made hemp legal.marijuana banking

The banking bill, also known as H.R. 1595, passed 321-103 in the House with wide bipartisan support, with 91 of those who voted for it being Republican. It’s unclear whether it will face much fierce opposition in the Senate or what the president’s position would be if it lands on his desk. There are Senate committee chair Republicans who are in support of cannabis banking reform measures, though none have specifically mentioned hemp.

If passed, the measure would direct U.S. banking regulators to draft guidelines to federally-backed financial institutions affirming the legality of both hemp and CBD products extracted from it – within 90 days of the law’s passage. The federal regulatory directive would outline best practices for banks on how to follow the law in offering financial services to any hemp-related business (which can include contractors, landlords, plumbers, etc.). Continue reading

State lawmakers from California to Maine will not legally be allowed to prohibit the transport of hemp and the CBD derived from it once the U.S. Department of Agriculture publishes it’s regulations on hemp production later this year. That’s according to an advisory opinion from a department attorney, who added states already should not ban or impede the transport of hemp grown legally per a 2014 law. The opinion also specifically took issue with the seizure of 6,700 pounds of hemp seized in Idaho in January. cannabis trucking lawyer

Growing hemp, which is the non-psychoactive cousin of marijuana that has a host of industrial uses (everything fro textiles to twine), is legal under the 2018 Farm Bill Congress passed late last year. Dozens of states are actively working to create a framework to expressly allow for the cultivation and sale of hemp, as many outlawed in state statute to match federal law. Idaho is one of a handful of states where driving through with a sizable load of hemp can result in serious time in prison. Continue reading

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