| Closed-Loop Payment Processing System.

Checkout our iOS App for a better way to browser and research.

Effective: September 8, 2016

Latest Legislation: House Bill 523 - 131st General Assembly

(A) The director of commerce may, in accordance with Chapter 119. of the Revised Code, adopt rules that establish a closed-loop payment processing system under which the state creates accounts to be used only by registered patients and caregivers at licensed dispensaries as well as by all license holders under this chapter. The system may include record-keeping and accounting functions that identify all parties involved in those transactions. The purpose of the system is to prevent all of the following:

(1) Revenue from the sale of marijuana from going to criminal enterprises, gangs, and cartels;

(2) The diversion of marijuana from a state where it is legal in some form under that state's law to another state;

(3) The distribution of marijuana to minors;

(4) The use of state-authorized marijuana activity as a cover or pretext for the trafficking of other illegal drugs or for other illegal activity.

(B) The information recorded by the system shall be fully accessible to the state board of pharmacy and all state and federal law enforcement agencies, including the United States department of the treasury's financial crimes enforcement network.


Download our app to see the most-to-date content.