New Oklahoma law addresses Medical Marijuana industry

OKLAHOMA - Senate Bill 913, signed into law by Governor Kevin Stitt last week, will require all applicants for a medical marijuana business license to submit a bond.

The bond would cover the area of land within the license application with a minimum payment of 50,000 dollars.

The measure does state commercial growers won't need to obtain a bond if they've owned the land for at least five years prior to an application submission.

The purpose of the bond is to help restore property if a medical marijuana grows shuts down or becomes abandoned.

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