Update: On June 26, 2018, Oklahoma residents voted in favor of Question 788, legalizing a state-regulated medical marijuana program. The Department of Health has stated that applications for medical marijuana business licenses will become available by July 26, 2018.
Question 788, Oklahoma’s Medical Marijuana Initiative, will be on the June 2018 ballot. If the initiative passes, the use of medical marijuana for qualified patients will be legalized. The state will establish a state-regulated dispensing system, and medical marijuana business licenses will be issued through an application process.
How to Open a Medical Marijuana Dispensary in Oklahoma
In order to open and operate a medical marijuana dispensary in Oklahoma, you must be licensed to do so. To obtain a license, you will need to apply to the state when they make applications available.
Within 30 days of the passage of Question 788, the Oklahoma Department of Health is responsible for making applications for medical marijuana business licenses available on their website, in an easy to find location.
Application Requirements for a Dispensary License in Oklahoma
Those who wish to apply for a medical marijuana dispensary license must meet the following requirements:
- Applicant must be age twenty-five (25) or older;
- Any applicant, applying as an individual, must show residency in the state of Oklahoma;
- All applying entities must show that all members, managers, and board members are Oklahoma residents;
- An applying entity may show ownership of non-Oklahoma residents, but that percentage ownership may not exceed twenty-five percent (25%)
- All applying individuals or entities must be registered to conduct business in the state of Oklahoma;
- All applicants must disclose all ownership;
- Applicant(s) with only nonviolent felony conviction(s) in the last two (2) years, any other felony conviction in five (5) years, inmates, or any other person currently incarcerated may not qualify for a medical marijuana dispensary license.
The application fee for a dispensary license is set at $2,500. The Department of Health will have 2 weeks to review the application, approve or reject the application, and mail the approval/rejection letter to the applicant.
Start Drafting Your Application for an Oklahoma Dispensary License
Will your application have what it takes to secure a dispensary license? To educate yourself more on the application process and start drafting your application, download our Oklahoma Marijuana Business Application Package, which includes:
- An Informational Overview of Oklahoma’s pending medical marijuana laws
- An Application Guide and Checklist which gives a detailed summary and checklist of all action items you’ll need to complete before submitting your application
- A Business Plan Template to help you start drafting the required plans and executive summary for your business
- A Financial Plan Template to give you and your investors a comprehensive 3-year projection of what you can possibly expect when selling marijuana
And as our special offer to you, you can Apply Code “OK2018” at Checkout for 20% OFF!