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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 10600
Experience:  30 years of corporate, litigation and international law
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5 on the mutual benefit form asks "What is the purpose of

Customer Question

5 on the mutual benefit form asks "What is the purpose of the business?" what do i put for marijuana collective?
Submitted: 9 months ago.
Category: Business Law
Expert:  Richard - Bizlaw replied 9 months ago.

Hello, my name is ***** ***** I will try to help you. Please remember I just report or interpret the law, so the outcome may not be what you hoped for.

Is this in California or another state? Is the use of marijuana legal in your state?

Customer: replied 9 months ago.
Medical marijuana legal on state level now...but can become non profit for medical marijuana collective by becoming mutual benefit Corp (non profit). Was told I need to answer that question's #5 on The form " The specific purpose of this corporation is to....."
Customer: replied 9 months ago.
Customer: replied 9 months ago.
are you there???
Expert:  Richard - Bizlaw replied 9 months ago.

I stepped away for a little while. The key is that your purpose must be lawful under CA law. Let me do a little research and I will get back to you shortly.

Customer: replied 9 months ago.
thank you
Expert:  Richard - Bizlaw replied 9 months ago.

There are going to be 17 different license categories under the new law. With one exception, you are only allowed to be in two licensed categories. I have attached a link that explains the different categories. Your description of your purpose should make clear which of the one or two categories into which you will fall. I would specifically reference the license type that you plan to engage in. At this time the state is not ready to start issuing licenses but this is the standard that will be applied. Below is the link

If I have answered all your questions, please highly rate my answer as that is how I receive credit. If you have more questions, please let me know. If the answer was especially helpful you can provide a bonus.

Customer: replied 9 months ago.
i already know about all of question was regarding the mutual benefit corporation form. question # 5...not here to discuss licensing...i'm already educated on all of that...