Regulatory Overview of Changes of Ownership and Control for Cannabis Businesses (MA)

Summary

This practice note provides an overview of the regulatory approval processes and considerations that cannabis businesses in Massachusetts seeking to effectuate changes of ownership and control should be aware of. In the Commonwealth of Massachusetts, medical and adult-use cannabis businesses licensed by the Massachusetts Cannabis Control Commission are required to comply with numerous state laws and agency regulations in order to obtain and maintain their licenses to operate. A central principle of the regulatory framework is that all individuals and entities that have significant ownership in and/or control over the cannabis business must be disclosed to and deemed suitable by the state regulatory authority at all times. For attorneys advising licensed cannabis businesses and investors involved in change of ownership and control transactions, it is important to identify and comply with all applicable regulatory requirements and carefully navigate the relevant state and local approval ...