Deff. who u know. I was thinking about hiring an attorney until i found one on an internet site, who had this posted.... What do you guys think?
420Lawyer.com : How to Open a Medical Marijuana Dispensary :: Know Your Medical Marijuana Rights
April 07, 2008 STATEMENT REGARDING NEW CLIENTS Due to the high volume of email and calls our firm receives, I believe it easier for me to create an outline of the current process of purchasing and/or operating a California Medical Marijuana Dispensary ("MMD") instead of discussing the same issues with each and every person individually.
There is no question that owning and operating an MMD can be a lucrative business, however, you must also be advised that under Federal Law, the sale and/or distribution of marijuana, (medical or not), is considered illegal and we can not guarantee any change in Federal Law or their position and tactics used to close down MMD's. As someone interested in this business, one thing you must ask yourself is why you want to own and operate an MMD. If it merely for the income, then this is probably not the business for you, the constant bombardment from various state and federal agencies can become taxing on an owner. A proper owner is someone who believes in the cause itself and an MMD operator must be someone with the compassion necessary to work with seriously ill patients on a daily basis as well as the ferocity and tenacity to stand up for what they believe in, even if it means spending a few hours in handcuffs.
That being said...if you are starting from scratch and looking in the Los Angeles City area, you will need to purchase someone else's license as the City of Los Angeles is no longer accepting or issuing the licenses. If you already have a license and need assistance with a currently open and running location, then I am certain we can assist you, please call our office to set up an appointment at (626) 578-0708, I am at extension "4"..
Alternatively, if you are looking to purchase a license in the City of Los Angeles, we have several clients who are willing to sell their license and/or locations. Each of the license owners are currently requesting $50,000 per license; this price is non-negotiable across all of the owners. Please also be advised that these are corporations that own licenses only and the buyer must procure their own retail rental space, the current owner has an office Headquarters, but all buyers must obtain their own retail rental location.
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Each MMD license is owned by a California "C-Type" corporation and was opened and properly filed with the California Secretary of State as well as the City of Los Angeles prior to the September 2007 deadline,
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Each corporation has its own corporate kit, including corporate book, stock certificates and corporate seal.
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On some of the MMD licenses, the owner failed to file a "zero income" return for the final quarter of 2007 with the City, but this is merely a form that must be filed and (I believe) the late fee is @ $250,
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Each of the MMD's carries its own liability insurance,
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Each of the MMD's has its own CA State Seller Permit, and
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Each of the MMD's has its own Federal Tax Identification Number.
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Transfer of ownership from one party to another is effectuated by a Shareholder Meeting discussing and approving the sale.
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A Purchase Agreement is signed by both parties, payment is made and the stock certificates are signed over to the new owner.
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The new owner(s) have an immediate Shareholders meeting where they name a new Board of Directors
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The Board of Directors, in turn, have an immediate meeting where they nominate and elect the new Officers.
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The list of the new Directors and Officers are filed with the California Secretary of State
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The City of Los Angeles is notified of a change of address (these are licenses only and the buyer must procure their own retail rental space).
Please note that this is a change of address only, this not an application for a new license, the buyer operates under the license that is already in existence.
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The State Board of Equalization is notified of the change of address
Additionally, there are other cities that are still allowing (or at least not disallowing) the opening of new dispensaries. For example, many unincorporated areas located within a county, such as the unincorporated parts of the County of Los Angeles, require the filing of a Conditional Use Permit, This process can take 6 months to 1 year to be completed and requires impact studies, land and community surveys and other lengthy requirements before meeting with the County Council to discuss approval or disapproval of the Conditional Use. There is no guarantee of approval or refusal when following this process. We can perform these services at our firm's normal hourly rate of $250.
Please also be advised that we do not keep a list of all the cities and counties in California that have and do not have moratoriums and/or ordinances set-up and, unfortunately, unless a client is willing to pay for the time it takes to contact each city and/or county planning department, city council and possibly others, it is not a cost-effective practice for our firm to perform this research, so we do not do so.
We also have other clients who currently have open and running MMD's that they are willing to entertain offers for purchase, most of these are starting their requests at $300,000 and up based on their current patient load. Obviously, purchase of an open and running MMD requires the above process, plus the additional steps necessary for a full business review; this can include inspection of the business' patient records, profit and loss statements, goodwill and reputation in the community, as well as prior tax returns. We can perform these services at our firm's normal hourly rate of $250. In addition, we would also strongly suggest obtaining an independent assessment of the business by a Certified Public Accountant.
Our firm is still accepting appointments from potential new clients, but, again, because of the high volume of calls and emails we receive, and because of many recent improper events and/or occurrences in the medical marijuana community itself, we feel that the spirit of the Compassionate Use Law is being stretched too far and we have had no choice but to become extremely discerning in who we do and do not accept as clients. We apologize for any inconvenience that this may cause.
If you are interested in purchasing one of the licenses or MMD locations that our clients have available, then please call our office to set up an appointment at (626) 578-0708, extension number 4.
Please be certain and serious about your decision to go forward before making an appointment as we do not appreciate clients who make and break multiple appointments.
Our initial interview meeting is 1 hour long and is billed at our firm's normal hourly rate of $250, payment is to be made in cash, up front, at the beginning of the meeting. There are no exceptions to this rule. Please prepare a list of questions and concerns that you have before the meeting because there is a lot of information that can be covered and 1 hour is not a very long time.
One final thought: We believe that the Compassionate Use Law is an important step in changing the way our government looks and deals with our nation's failing medical system as a whole. By recommending the use of natural alternative medications and stepping away from the big business of chemical drug manufacturing, we take a step closer back to a more natural and healthier way of living.
sorry for the long post, but i thought it was all good...
