■ Law
Continued From Page 28 towns are choosing to do . Any municipality that does not “ opt out ” by August 21st will be unable to ban cannabis businesses for a period of five years . This deadline , however , abuts a deadline New Jersey ’ s recently-appointed Cannabis Regulatory Commission faces for the release of its rules and regulations governing the industry . Accordingly , there is currently a significant level of uncertainty in the marketplace . Without clear guidance from the Commission , municipalities that might otherwise be open to some level of cannabis industry may , out of an abundance of caution , choose to opt out . Accordingly , we at Dunn Lambert have been counseling and assisting businesses interested in the recreational cannabis market to be strategic and proactive , identifying municipalities that are more likely to be welcoming to this emerging industry , and communicating with municipal leaders to understand how their towns are likely to respond to the opt-out deadline .
Fox Rothschild LLP By Peter Kelly , Esq ., Partner
I do not believe that existing or new bans instituted by municipalities in respect of cannabis-related businesses will have much , if any , impact on the market and potential opportunities in New Jersey . The fact that a particular municipality might decide to enact a ban against allowing cannabis-related businesses does not change the number of licenses or types of licenses that will be available to those applying pursuant to the New Jersey Cannabis
Cannabis businesses are required to submit an application for licensing to operate within the state . Regulations will be enforced by the New Jersey Cannabis Regulatory , Enforcement Assistance and Marketplace Modernization Act .
Regulatory , Enforcement Assistance and Marketplace Modernization Act and the regulations enacted thereunder . While it certainly is prudent to follow which municipalities enact bans or are considering enacting bans , that is just one of the many things interested parties should begin doing now . The key to success is advanced preparation as applicants will need to submit a lot of detailed information in a relatively short amount of time . The request for application will outline the requirements for applying and a respondent will have a limited number of days to prepare what , in the end , is a very thorough document . The earlier an applicant gets started
on the more time-consuming areas , the better chance that applicant will have for submission of a winning application .
Gibbons P . C . By Michael D . DeLoreto , Esq ., Director , Government & Regulatory Affairs
The most important item we have always stressed to our clients is the location selection process . Site location is dependent on the type Continued On Page 32
Photo : Getty Images / iStockphoto
New Jersey ’ s burgeoning cannabis industry presents an exciting opportunity for entrepreneurs .
Photo : Getty Images / iStockphoto
30 COMMERCE www . commercemagnj . com