Texas Hemp Grower's License

Texas Hemp Grower’s License

Last night, Governor Abbot signed Texas HB 1325 (or, “Bill”) into law. HB 1325 establishes a hemp growth program here in Texas and governs manufacture and retail sale of hemp and hemp-derivative products. Because the Bill received the required vote threshold, it became effective immediately, making June 10, 2019, a historic date for Texas hemp…

Texas HB 1325

HB 1325: Texas Hemp Products, Part II

HB 1325 (or, “Bill”) is still pending in the Texas Legislature. The Bill will allow hemp growth in Texas for licensed hemp growers and will legalize hemp products, including CBD. HB 1325 will have an impact on manufacturers of hemp-derivative products in Texas and on hemp products in Texas. Today, we review what this impact…

Cannabis Banking

Cannabis Banking: SAFE Banking Act passes House Committee

What is one of the biggest problems facing cannabis businesses today? What to do with the money. Currently, most banks are reluctant to service cannabis businesses as such activity could threaten the bank’s charter since marijuana remains a Schedule I substance federally.  Cannabis banking is certainly a risk for a chartered bank. Cannabis businesses cannot…