20 CAR § 800-210 – Licensing fee and issuance of license

(a)
1. (1) Within seven (7) days of receiving written notice of selection from the Medical Marijuana Commission, the selected applicant shall submit to the commission a cultivation facility license fee of one hundred thousand dollars ($100,000) in cash or certified funds.
2. (2) Any certified or cashier’s check shall be made payable to the State of Arkansas.
(b) If the licensing fee is not timely paid, the selected applicant will be disqualified, and the commission shall select the next highest scoring applicant within the group of applications in accordance with 20 CAR § 800-209.
(c)
1. (1) Within seven (7) days of receiving written notice of selection from the commission, the selected applicant shall submit to the commission a performance bond in the amount of five hundred thousand dollars ($500,000).
2. (2) The bond shall be maintained until the cultivation facility files its first required sales tax report with the Department of Finance and Administration for the sale of usable marijuana.
(d) If the performance bond is not timely posted, the selected applicant will be disqualified, and the commission shall notify the next available applicant as determined by the merit selection process in 20 CAR § 800-209.
(e) After the license fees and performance bond are timely tendered in an acceptable form, the applicant shall be awarded a license and a registration number.
(f) Upon issuance of a cultivation facility license, and following inspection required by Alcoholic Beverage Control Division rules, the cultivation facility licensee may begin operations.
(g) The cultivation facility licensee shall visibly post a copy of its license at the cultivation facility covered under the license.
(h) A license that is initially issued between January 1 and July 1 may have the licensing fee prorated up to fifty percent (50%) of the total fee as determined by the commission.