Our friends at COVA take a look at NY’s upcoming CAURD licensing
New York’s Office of Cannabis Management recently released regulations and details regarding how to apply for a Conditional Adult-Use Retail Dispensary (CAURD) license in the empire state. CAURD licensees will be the first legal retail dispensaries to open for adult-use cannabis sales by the end of 2022 in New York State. With these social equity measures, cannabis businesses owned by justice-involved individuals will be at the heart of New York’s recreational cannabis market. If you’re considering applying for a dispensary license in New York State and wondering if you qualify for the CAURD license, we’ve answered all the top frequently asked questions for you in this blog post.
Q1. What is New York’s Cannabis CAURD License?
The Conditional Adult-Use Retail Dispensary (CAURD) Licenses will be the first cannabis recreational dispensary licenses issued in New York State. Justice-Involved individuals will receive the first 100 CAURD licenses in New York. To obtain a CAURD license, applicants must meet all social equity eligibility requirements and submit a competitive application. The OCM will officially begin accepting applications for CAURD licenses from August 25, 2022.
Q2. Who is Eligible for the CAURD License in New York?
To be eligible for the CAURD dispensary business license in New York, a qualifying business must be at least 30% owned by an individual who is/has:
- Justice-Involved: Check here if you qualify as a Justice-Involved individual.
- Qualifying Business Experience: At least 10% ownership in a business with two years of net profit.
- Solo Control: The power to order or direct the management and policies of a business.
- Significant Presence in New York: Residency and Assets in New York.
Additionally, the qualifying business must be majority owned by justice-involved individuals.
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