Month: May 2018

Hemp products now regulated like food ingredients in Colorado

Gov. John Hickenlooper on Wednesday signed House Bill 1295, which formalizes an 11-month-old state policy that applies existing food manufacturing guidelines to products such as hemp oil-infused coffees and hemp-derived extracts rich in the non-psychoactive compound cannabidiol.

The post Hemp products now regulated like food ingredients in Colorado appeared first on The Cannabist.

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California Senate Approves Bill to Establish Marijuana Banks and Credit Unions

Legislation that would allow for the creation of a special class of state-chartered banks and credit unions that could service California’s legal marijuana industry has been passed by the full Senate.

“The status quo for our growing legal cannabis industry is unsustainable,” says SenatorRobert Hertzberg (D), who filed Senate Bill 930. “It’s not only impractical from an accounting perspective, but it also presents a tremendous public safety problem. This bill takes a limited approach to provide all parties with a safe and reliable way to move forward on this urgent issue.”

The measure was approved by the full Senate yesterday in a 29 to 6 vote. The vote sends the bill to the House of Representatives, where passage would send it to the desk of Governor Jerry Brown.

The proposed law would allow for the creation of special state-chartered banks and credit unions that could legally process transactions by licensed marijuana businesses. These “marijuana banks” would be regulated by the Department of Business Oversight.

More specifically, Senate Bill 930:

“establishes the creation of cannabis limited charter banks (CLCBs) and cannabis limited charter credit unions (CLCCUs) to provide limited banking services to the cannabis industry. Under the administration of the Department of Business Oversight (DBO), CLCBs and CLCCUs can accept and maintain cash deposits as well as issue special purpose checks that can only be used for the following:

  • To pay fees or taxes to the state or local jurisdiction,
  • To pay rent on property that is associated with the account holder’s cannabis business,
  • To pay vendors located in California for expenses related to goods and services associated with the account holder’s cannabis business, or
  • To purchase bonds or interest-bearing notes or warrants backed by the full faith and
    credit of the state, or bonds or warrants of any local jurisdiction.”

The full text of Senate Bill 930 can be found by clicking here.

The post California Senate Approves Bill to Establish Marijuana Banks and Credit Unions appeared first on TheJointBlog.

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Study: Cannabis Extracts Are Safe And Effective In Treating Pediatric Movement Disorders

The daily daily use of high-CBD, low-THC cannabis extracts is safe and effective in treating symptoms related to pediatric movement disorders, according to a study published in the Journal of Child Neurology.

Cannabis tincture.

According to researchers, “A complex motor disorder is a combination of various types of abnormal movements that are associated with impaired quality of life (QOL).” Given that “Current therapeutic options are limited”, the researchers “studied the efficacy, safety, and tolerability of medical cannabis in children with complex motor disorder.”

For the pilot study, which was approved by the institutional ethics committee, “Two products of cannabidiol (CBD) enriched 5% oil formulation of cannabis were compared: one with 0.25% δ-9-tetrahydrocannabinol (THC) 20:1 group, the other with 0.83% THC 6:1 group.” Patients aged 1 to 17 years with complex motor disorder were enrolled. The assigned medication was administered for 5 months.

“Significant improvement in spasticity and dystonia, sleep difficulties, pain severity, and QOL was observed in the total study cohort, regardless of treatment assignment”, states the study’s abstract.” Adverse effects “were rare.”

More information on this study can be found by clicking here.

The post Study: Cannabis Extracts Are Safe And Effective In Treating Pediatric Movement Disorders appeared first on TheJointBlog.

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