Marijuana Surety Bond

Marijuana surety bonds guarantee that your dispensary will operate in accordance with your state's laws and regulations, and can be required of both medical and recreational marijuana dispensaries to obtain a license. However, whether you need a bond, and the specific bond type required will vary depending on your operation/the state you're conducting business in. As more states legalize both medical and recreational marijuana, the number of bond requirements will likely increase across the country.

For example, if you want to operate a marijuana dispensary in Alaska, you will need a bond which guarantees you will report/pay taxes on the goods you sell to the state in a timely fashion. If you don't pay the required taxes, a claim will be filed on your bond which you must pay.

In Oklahoma, any applicant for a commercial medical marijuana grower license must submit a surety bond with an amount of at least $50.000, along with their application.

These bonds generally cost between 1-15% of the required bond amount. The percentage you must pay (your rate) is based on your financial strength, e.g. personal credit, business financials, etc. When you're set to take the next step, click here for a swift, no-obligation quote – entirely free of charge.

The need for a marijuana surety bond varies from state to state and depends on the license you’re applying for. In Ohio, for example, you need to be bonded should you wish to conduct business as one of the following:

• Dispensary
• Processor
• Cultivator
• Testing Laboratory

In other states, like Oklahoma, you need a surety bond to run a marijuana establishment or to cultivate it for medicinal use.

If you're unsure whether you need a bond, you can select your state from the list below to view the bond requirements. You can also take a look at our most frequent surety bond related questions.