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STATE OF OKLAHOMA
2nd Session of the 58th Legislature (2022)
HOUSE BILL 3268 By: Mize
AS INTRODUCED
An Act relating to medical marijuana; amending 63
O.S. 2021, Section 427.15a, which relates to the
Oklahoma Medical Marijuana and Pat ient Protection
Act; increasing percentage amount of equity in
certain Oklahoma businesses that publicly traded
companies may purchase; and providing an effect ive
date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 63 O.S. 2021, Section 427.15a, is
amended to read as follows:
Section 427.15a For purposes of this se ction, "publicly traded
company" means a business entity organized under the laws of the
United States or Canada where the dom icile for the business entity
permits the sale of marijuana and such business entity ha s a class
of securities that are registered and traded for investment p ursuant
to the Security Exchange Act of 1934 or listed and traded fo r
investment on a reputable re cognized foreign stock exchange or
foreign market exchange.
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On and after the effective date of this act, a publicly traded
company as defined herein is autho rized to purchase up to forty
percent (40%) one hundred percent (100%) of the equity in an
existing Oklahoma business that holds a valid Oklahoma medical
marijuana grower, processor or transporter license; provide d,
however, the only Oklahoma business qual ified for investment or
equity purchase under this section must have held a valid medical
marijuana grower, processor or transporter license for at least
eighteen (18) months prior to the investment or equity purc hase and
must be currently operating in good standing in this state. A
licensed medical marijuana dispensary shall not be qualified for
investment or equity purchase under the provisions o f this section.
SECTION 2. This act shall become effective November 1, 2022.
58-2-8673 GRS 12/10/21