Colorado Marijuana Bond
NFP Surety is a major provider of CO Medical Marijuana License Bonds. Before the State of Colorado issues a license to an applicant, the applicant shall file with the state evidence of a Colorado Medical Marijuana License Bond in the amount of ($5,000) five thousand dollars with a corporate surety company licensed to do business with the State of Colorado, on the approved Medical Marijuana License Bond form prescribed by the Attorney General of the State of Colorado, and conditioned that the applicant shall report and pay all sales and use taxes due to the state, or for which the state is the collector or collecting agent, in a timely manner, as provided in law.
A corporate medical marijuana license surety shall not be required to make payments to the state claiming under such CO Medical Marijuana Bond until a final determination of failure to pay taxes due to the state has been made by the state licensing authority or a court of competent jurisdiction.
Colorado Marijuana License Bond
All Medical Marijuana Licensing Bonds shall be renewed at such time as the bondholder’s Medical Marijuana License is renewed. The renewal may be accomplished through a continuation certificate issued by the surety company.
STATE LICENSING AUTHORITY – APPLICATION AND ISSUANCE PROCEDURES.
Applications for a CO Medical Marijuana License shall be made to the state licensing authority which will contain information required to determine whether a license should be granted. The information shall include the name and address of the applicant, the names and addresses of the officers, directors, or managers, and all other information deemed necessary by the state licensing authority. The state licensing authority shall not issue a Medical Marijuana License until the local licensing authority has approved the application for a local license and issued a local license.
For more information about a CO Medical Marijuana License Bond, please feel free to call NFP Surety using our toll free number (480) 947-3555. You can find additional information by going to the state website www.colorado.gov.