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Colorado Marijuana License Bonds

With the new marijuana laws in Colorado, come new business licenses for the marijuana industry, and thus new bonding requirements.

A few years back, Colorado elected to approve medical marijuana dispensaries. At that time, all dispensaries were (and still are) required to carry medical marijuana bonds. The state of Colorado requires all medical marijuana dispensaries to carry a $5,000 Colorado medical marijuana surety bond. Dispensaries located in the city of Denver are required to carry an additional $5,000 City of Denver medical marijuana surety bond.

Recently, the state has passed new legislation allowing retail marijuana businesses to open. Effective January1, 2014 all retail marijuana businesses will be require to carry surety bonds as part of their licensing requirements. All Colorado retail marijuana businesses will be required to carry a $5000 Colorado retail marijuana bond. In addition, businesses located in the city of Denver will be required to carry a second bond, the $20,000 City of Denver retail marijuana bond.

All of these different marijuana bonding requirements can be quite confusing. Reeder Insurance can help sort through which bonds marijuana businesses are required to carry as well as guide marijuana businesses through the process of securing those bonds. Reeder Insurance is equipped to handle both medical marijuana bonds and retail marijuana bonds for both the state of Colorado and the city of Denver. Call us today (720) 883-1770 for a quote!

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