We recently appraised a Commercial Marijuana Operation in the Central Valley area for the purpose of private money lending. This newly emerging enterprise within the State of California is only allowed by certain cities. On October 9, 2015, the Governor signed the Medical Marijuana Regulation and Safety Act (MMRSA), comprised of California legislative bills AB 243, AB 266, and SB 643. MMRSA creates a comprehensive state licensing system for commercial cultivation, manufacture, retail, sale, transport, distribution, delivery, and testing of medical cannabis, all subject to local control.
