Nevada is Still Working Out the Dispensary Bugs

From the Marijuana Business Daily:
Nevada dispensary opening delayed again.

The problem this time around is having a sufficient supply of product.
–The state of Nevada allows dispensaries to buy from individuals, but only allows said individuals to possess 2.5 ounces each. Which means the dispensaries need a huge network of individuals to buy from.

–The gotcha in this case is if home growers sell more than 2.5 ounces to the dispensary, they’d basically be admitting that they’re breaking the possession law. This problem is followed closely by the cost of testing each 2.5 ounce batch for impurities.

We will eventually have a functioning system, but it’s going to take time, money and a lot of patience.

‘Embarrassingly Low’ Patient Count in Illinois

According to the Marijuana Business Daily Illinois is short on MMJ customers:

Illinois has approved just 2,500 patients for MMJ cards since opening the registry nearly nine months ago, which one attorney with ties to the medical marijuana industry called “embarrassingly low.” That’s a far cry from the state’s initial estimate of 75,000 potential patients and much less than many entrepreneurs had expected at this point

Locally, on top of lawsuits, political turf battles and a bunch of idiots making rules on a subject they don’t understand. There seems to be a complete and utter lack of awareness that only about 8,000 Nevadans have medical marijuana cards as of the end of 2014.

Sioux Tribe Votes Legalize Marijuana on the Reservation

According to the Keloland website the Flandreau Santee Sioux Tribe executive committee voted 5-1 Thursday to legalize the growing and use of marijuana on tribal land. Trustee Roxee Johnson was the sole opposition to the ordinance.

The state of South Dakota says it’s still illegal for a non-indian to be under the influence of marijuana. But the tribe says there’s no requirement to be an indian to purchase or use the product on reservation property.

The tribe is working out the myriad details of where it will be grown, where it will be processed, and where the bar? for general consumption will be located.

And so it begins. Reservations will now have something large besides gambling to generate much needed capital.

Lloyd’s Pulls Out of Marijuana Insurance Business

According to Oregon Public Broadcasting, after ten years or so, Lloyd’s of London has stopped offering insurance to the medical marijuana industry, citing the conflict between federal and state law in the United States. –The company concluded that money stemming from legal state marijuana sales could be subject to federal anti-money laundering laws.

It’s unknown at this time if Lloyd’s is going to start canceling policies or refuse to renew them.

There are other companies that are willing to take the chance like Hannover Re (Germany), but they are expected to be more expensive.

Nevada to Try Reciprocity

More from Marijuana Business Daily:

Reciprocity — The provision allows any legally registered MMJ patient from anywhere in the world to purchase marijuana in any of those dispensaries.

Only a few other states in the country have it, but to varying degrees. Maine, for example, allows for reciprocity, but requires confirmation from a doctor. And in Rhode Island, it’s legal for out-of-state MMJ patients to possess up to two and a half ounces, but they’re not allowed to purchase marijuana at dispensaries. But Nevada is something of a test case, because their dispensaries will likely target out-of-state MMJ patients as a market.

“You show us your card, you show us your ID, you sign an affidavit, and you can participate in our program,” said state Sen. Richard “Tick” Segerblom, D-Las Vegas, one of the prime sponsors of the measure to establish MMJ dispensaries in the state (Senate Bill 374).