By: Christopher Wisniewski and Ryan J. Udell

On May 15, 2020, the House of Representatives passed the Economic Recovery Omnibus Emergency Solutions (HEROES) Act. Coming in at over 1,800 pages, there are sure to be a few surprises tucked into such a massive piece of legislation. One such financial services component is the reintroduction of the Secure and Fair Enforcement (SAFE) Banking Act. Ostensibly, as a response to the COVID-19 crisis, the stated purpose of the SAFE Banking Act is to “increase public safety by ensuring access to financial services to cannabis-related legitimate businesses and service providers and reducing the amount of cash at such businesses.” (more…)

By: Ryan Udell and William L. Doerler

In late 2018, President Trump formally signed the Agricultural Improvement Act of 2018 (2018 Farm Bill) into law, and in turn declassified hemp as a Schedule 1 substance under the Controlled Substances Act (CSA). Hemp is defined, in part, as the plant Cannabis sativa L. and any part of that plant, including the seeds thereof, with a delta-9 tetrahydrocannabinol (THC) concentration of not more than 0.3 percent on a dry weight basis. Thus, cannabis plants and derivatives that contain no more than 0.3 percent THC – the ingredient attributed with marijuana’s psychoactive effects – are no longer controlled substances under Federal law. The change in the law renewed interest in developing and marketing products containing cannabis and cannabis-derived products, including products containing hemp and cannabidiol (CBD), another cannabis component. (more…)

By: Ryan Udell and Melissa Pang

Pennsylvania Secretary of Health Dr. Rachel Levine approved a recommendation from the state medical marijuana advisory board to allow the sale of whole-plant cannabis (dry leaf and flower) for medical purposes in Pennsylvania at an April 16, 2018 Harrisburg news conference. Previously, Pennsylvania permitted only the sale of oils, extracts, pills, and tinctures. Dry leaf, which requires no processing and is easier and cheaper to produce, will be available in dispensaries later this summer, according to Dr. Levine. This new development should reduce the cost of treatment and increase access to patients who have been facing shortages since dispensaries opened in February. Pennsylvania law still forbids patients from smoking or consuming marijuana in edible form and prohibits dispensaries from selling pipes, bongs, and rolling papers, permitting the sale of dry leaf medical marijuana only for vaporization through vaporizers and other devices. (more…)

By: Ryan Udell and Michael Psathas

United States Senate Majority Leader Mitch McConnell has announced that he would introduce legislation that would legalize hemp as an agriculture product. The Hemp Farming Act of 2018 would essentially remove hemp from a list of controlled substances that are prohibited under federal law. According to Majority Leader McConnell, his legislation would remove federal barriers to expand domestic production of hemp and provide hemp researchers access to federal grants from the US Department of Agriculture. (more…)

By: Josh Galante

Attorneys and their clients often refer to a contract becoming enforceable once it has been “fully executed,” but what does that phrase actually mean? Like most legal questions, the short answer is: “It depends.” It depends on several factors, including the type of contract, the parties involved, the course of dealing between those parties, and other facts and circumstances.

(more…)