1. (1) The commission shall issue a license to sell a cannabinoid product to a retailer that submits an application, on a form created by the commission, that includes:

   1. (a) the retailer's name;
   2. (b) the address of the location permitted under Section 4-41-103.3 where the retailer sells the cannabinoid product; and
   3. (c) any other information the commission requires to implement this chapter.

2. (2) A license is:

   1. (a) valid at only one fixed business address;
   2. (b) valid for three years;
   3. (c) valid only for a physical location; and
   4. (d) renewable if a licensee meets the criteria for licensing described in Subsection (1).

3. (3)

   1. (a) The commission shall require a retailer that is responsible under this part for the collection of tax on a cannabinoid product to post a bond.
   2. (b) Subject to Subsection (3)(c), the commission shall determine the form and amount of the bond.
   3. (c) The minimum amount of the bond shall be $500.
4. (4) In accordance with Title 63G, Chapter 3, Utah Rulemaking Authority, the commission may make rules to establish the additional information described in Subsection (1)(c) that a retailer shall provide in the application described in Subsection (1).
5. (5) The commission may not charge a fee for a license under this section.
6. (6) The license under this section is in addition to a license required under Section 4-41-103.3.

7. (7)

   1. (a) The commission shall maintain a public list that includes the identity of each person licensed under this section.

   2. (b) The list shall:

      1. (i) include the type of license possessed; and
      2. (ii) be updated by the commission at least once per quarter.

Enacted by Chapter 35, 2024 General Session