The medical and adult use marijuana industries are quickly expanding and subject to evolving legal and regulatory frameworks, including surety bond requirements. Continental Heritage has the expertise to help our clients meet legal and regulatory surety requirements.
California Destruction Bonds
California Marijuana Destruction Bonds are required by the Bureau of Cannabis Control pursuant to California Code of Regulations and California Cannabis Bonds may be required by local city and county governments. The Bureau of Cannabis Control requires a surety bond in the amount of $5,000 for medical and adult use marijuana retailers, cultivators, manufacturers, distributors, testing laboratories, and micro-business licensees. California law allows local city and county governments to pass regulations and ordinances requiring marijuana businesses to post a surety bond with values ranging from $5,000 to $25,000. These bonds ensure compliance with licensure and permit requirements, the timely payments of taxes, and guarantee payments related to the cost incurred for the destruction of marijuana goods and materials in the event of a violation of the ACT or other pertinent regulations. Continental Heritage’s California Destruction Bond program will provide you with the required surety bond.
Continental Heritage Insurance Company is the first approved and only admitted carrier offering California Cannabis Bonds. Purchase your bond online today by completing the application below. Once your application is submitted and payment is received, approval takes as few as 24 hours. Upon approval you will receive an electronic copy of your bond and a hard copy will be mailed. In the event that your application is denied, you will receive notification and your pre-paid premium will be refunded in full within 72 hours.
If you have any questions, please do not hesitate to contact Continental Heritage at firstname.lastname@example.org.