MAY 2025 | 25 THE OKLAHOMA BAR JOURNAL Statements or opinions expressed in the Oklahoma Bar Journal are those of the authors and do not necessarily reflect those of the Oklahoma Bar Association, its officers, Board of Governors, Board of Editors or staff. provide the buyer with all required records going back to the start of the business) and one narrow (i.e., the seller only needs to provide the records related to the inventory itself). For example, if no item in a dispensary’s inventory came into its possession earlier than June 1, 2024, does the dispensary’s buyer need records earlier than that date? As a buyer’s attorney, I would always urge the broader reading to ensure my client is not at risk of failing to possess records it should arguably possess, especially since the regulation says, “Responsibility for the accuracy of records prior to the date of transfer remains with the transferor, but responsibility for custody and maintenance shall be upon the transferee.”27 As a seller’s attorney, however, I would ask why my client would not simply want to provide the entire set of records. Perhaps there are proprietary business reasons, or perhaps there are concerns about potential undiscovered violations. Regardless, these are the kinds of conversations any lawyer representing a cannabis business must be prepared to ask. And when the buyer receives the inventory and records, all future recordkeeping obligations (both for pre and post-transfer activity) lie with the new business. CONCLUSION In a memorandum issued to OBN Director Donnie Anderson on Oct. 16, 2023, OBN Assistant General Counsel James Hutchison provided a clear and comprehensive answer to the question, “Is a medical marijuana business license and/or registration transfer authorized by the Uniform Controlled Dangerous Substances Act and what impact does this have on controlled dangerous substances?”28 Mr. Hutchison’s short answer was “No,” and toward the end of his memorandum, he noted, “This is an issue that should be addressed at the next legislative session.”29 In that next legislative session, OMMA, the OBN and Attorney General Gentner Drummond worked together with representatives of the cannabis industry, led by Ryan Kiesel, to enact the transfer statute. This kind of interagency collaboration with both the Legislature and the regulated community is a simple story of good governance in action. We hope it is also remembered as one small piece of the extraordinary legacy Mr. Kiesel left behind. ABOUT THE AUTHORS Brian Ted Jones is president of Brian Ted Jones PC, a cannabis law firm based in midtown Oklahoma City. He is a Choctaw citizen and a graduate of both St. John’s College and the OU College of Law. Max Federman is an associate attorney at Brian Ted Jones PC. He is a graduate of Heritage Hall in Oklahoma City, the Wharton School at the University of Pennsylvania and the OU College of Law. ENDNOTES 1. This reform would not have happened without the efforts of the late Ryan Kiesel, and nobody worked harder than he did to see this common-sense policy enacted into the Oklahoma Statutes. Mr. Kiesel was a proud member of the OBA who left us this year at much too young an age. We would like to dedicate this article to him. 2. 63 O.S. §427.14c (B). 3. Id. 4. See 63 O.S. §427.14c (A): “After the effective date of this act, no medical marijuana business shall be transferred without written approval of an application by [OMMA.]” See also 63 O.S. §427.14c (G): “Any attempt to transfer a medical marijuana business, medical marijuana, medical marijuana concentrate, or medical marijuana products of a medical marijuana business without approval from the Authority shall be grounds for revocation or nonrenewal of the license and denial, revocation, or nonrenewal of current or future licenses or license applications with ownership held by any such person involved in the unlawful transfer.” 5. 63 O.S. §427.14c (D). 6. 63 O.S. §427.14c (E). 7. 63 O.S. §2-302 (H)(1). 8. 63 O.S. §427.14c (C). 9. 75 O.S. §314 (B). 10. 788 (at 63 O.S. §420 et seq) and the Oklahoma Medical Marijuana and Patient Protection Act (at 63 O.S. §427.1 et seq.). 11. 63 O.S. §§2-301-2-309. 12. OAC Title 442. 13. OAC Title 475. 14. Available at https://bit.ly/4jy7B56. 15. OAC 475:20-1-4(b). 16. OAC 475:20-1-3(b). 17. 63 O.S. §427.14c (F). 18. 63 O.S. §427.14c (B). 19. OAC 475:35-1-3(b). 20. OAC 475:35-1-3(b)(1). 21. OAC 475:35-1-3(b)(2). 22. OAC 475:35-1-3(b)(3). 23. OAC 475:35-1-3(b)(4). 24. OAC 475:35-1-3(b)(5). 25. OAC 475:35-1-3(c)(1). 26. OAC 475:35-1-3(c)(2). 27. Id. 28. This memorandum is available online at https://bit.ly/43TGRaK. 29. Id. at p. 10.
RkJQdWJsaXNoZXIy OTk3MQ==