It's important to know the requirements for ownerships of a cannabis dispensary in Oklahoma so that you can put together a team of owners who qualify for licensing. Having a team member who does not qualify for licensing could cause denial of licensure and delays in your license application.
TITLE 310. OKLAHOMA STATE DEPARTMENT OF HEALTH CHAPTER 681. MEDICAL MARIJUANA CONTROL PROGRAM
310:681-2-2.
"Owner" means, except where the context otherwise requires, a direct beneficial owner, including, but not limited to, all persons or entities as follows:
(A) All shareholders owning an interest of a corporate entity and all officers of a corporate entity;
(B) All partners of a general partnership;
(C) All general partners and all limited partners that own an interest in a limited partnership;
(D) All members that own an interest in a limited liability company;
(E) All beneficiaries that hold a beneficial interest in a trust and all trustees of a trust;
(F) All persons or entities that own interest in a joint venture; (G) All persons or entities that own an interest in an association;
(H) The owners of any other type of legal entity; and
(I) Any other person holding an interest or convertible note in any entity which owns, operates, or manages a licensed medical marijuana facility.
310:681-1-4. Definitions
"Disqualifying criminal conviction" means:
(A) Any non-violent felony conviction within last two (2) years of submitting an application to the Department;
(B) Any violent felony conviction for an offense listed in 57 O.S. § 571(2) within last five (5) years of submitting an application to the Department; or
(C) Incarceration for any reason during submission of application to the Department.