This bill amends Section 2 of Chapter 41 of the Oklahoma Statutes related to medical marijuana bonds, specifically addressing the requirements for commercial growing operations. It introduces the definition of "reclamation" as returning land to a marketable condition and mandates that holders of medical marijuana business licenses must acquire a bond of at least $50,000 for each license. The bond is intended to ensure compliance with relevant laws and regulations, and the Oklahoma Medical Marijuana Authority (OMMA) is granted the authority to recall the bond under certain conditions, such as property abandonment or license revocation.
Additionally, the bill requires the OMMA to notify local law enforcement agencies upon the expiration of a medical marijuana business license and mandates that the Authority maintain records of bond statuses for a minimum of two years. The OMMA is also tasked with promulgating rules necessary to implement these provisions. The effective date for this act is set for November 1, 2026.