Client Alerts, News Articles & Blog Posts

Everything you need to know about BMD and the industry.

Banking & Cannabis: The Next Frontier Webinar

On Tuesday, September 21st, BMD’s own Banking and Cannabis Partner, Stephen Lenn, hosted a star-studded cast of panelists in a webinar titled Banking & Cannabis: Cannabis Lending, The Next Frontier. The webinar, which had to suspend registrations when hitting a maximum cap of 500, aimed to explore issues related to cannabis and banking, with a particular emphasis on lending. With the sponsorship and support of the Bankers Associations of Arizona, Colorado, Ohio and Utah, Steve was able to recruit an elite group of bankers, bank regulators, cannabis industry players, and cannabis regulators, who took the topic head on. The discussion kicked off with an opening from the keynote speaker, VP of Congressional Affairs for the American Bankers Association, Tanner Daniel.

Mr. Daniel opened the panel discussion with an observation that even though he never envisioned being involved in cannabis lobbying, yet the political climate and rapidly changing laws of cannabis thrust him into the space. With that, Mr. Daniel discussed the realities of passing the various pieces of legislation currently pending at the federal level, but a pervasive theme followed his comments and the rest of the conversation – banking the cannabis industry is here, and it going to keep moving forward!

From there, the discussion was passed onto the panel of bankers, industry players, and regulators who addressed banking and cannabis from their points of view. The robust conversation ranged from how bankers got into the business, their experience with regulators, how they perform risk-based assessments to categorize certain cannabis businesses when providing bank services, to issues facing cannabis executives and employees who are trying to obtain personal loans and mortgages, then topped off the discussion by describing how cannabis regulators interact with financial institutions throughout the licensing process.

The webinar ultimately created several important results. First, the program brought together prominent constituencies in the banking and cannabis space which will facilitate greater collaboration and future successes among those stakeholders. Second, it provided actionable information to the attendees – about 75% of whom were bankers representing more than 200 banks, including a dozen of the 56 largest. Finally, even if measured only by the level of interest reflected by capacity registration, it substantiates the almost inevitable expansion of banking for the cannabis industry – and that everyone must be ready.

For a recording of the webinar, click here. For more information on the importance of banking and cannabis, click here for a compilation of related materials.

Please direct all related inquiries to cannabislaw@bmdllc.com

Changes to Physician Assistant Statutes in Florida

In the last year, there have been many changes to the scope of practice and collaboration/supervision requirements for advanced practice providers such as APRNs and physician assistants in the state of Florida. In a previous Client Alert we discussed House Bill 607, which expanded the autonomous practice of APRNs providing primary care services in Florida.

Ohio Senate Bill 49 – Ohio Expands Lien Rights for Design Professionals

Effective September 30, 2021, Ohio granted limited lien rights to design professionals, including architects, landscape architects, engineers, and surveyors. Ohio Governor Mike DeWine signed Senate Bill 49 into law on July 1, 2021. This new law established a statutory right to lien commercial real estate by Ohio design professionals who, until now, could not file a lien for non-payment of professional services. Senator Vernon Sykes, a primary sponsor of Senate Bill 49, stated that the “legislation ensures that architects, engineers and other designers will get paid for their work, regardless of the outcome of their projects . . . It will support hardworking Ohioans by protecting the value of their labor . . ..”

Primary Care Practice Officially Defined in Florida for APRNs Practicing Autonomously

As many providers in Florida are aware, House Bill 607 (the “Bill”), which was passed in February of last year, gives certain APRNs in Florida the ability to practice autonomously. The only catch is that they must work in primary practice. When the Bill was initially passed, there was question as to what was exactly considered primary care, absent a definition from the Florida Board of Nursing. However, as of February 25, 2021, “primary care practice” has officially been defined.

Part II of the No Surprises Act

The Department of Health and Human Services (“HHS”) published Part II of the No Surprises Act on September 30, 2021, which will take effect on January 1, 2022. The new guidance, in large part, focuses on the independent dispute resolution process that was briefly mentioned in Part I of the Act. In addition, there is now guidance on good faith estimate requirements, the patient-provider dispute resolution processes, and added external review provisions.

Safer Federal Workforce Task Force - Guidance for Federal Contractors and Subcontractors

The Safer Federal Workforce Task Force has issued its Guidance for Federal Contractors and Subcontractors (Guidance). Note that the Guidance applies only to “covered contracts,” which are contracts that include the clause (Clause) set forth in Sec. 2(a) of Executive Order 14042 (Ensuring Adequate COVID Safety Protocols for Federal Contractors). The Federal Acquisition Regulatory Council (FARC) is to conduct rulemaking and take related action to ensure that the Clause is incorporated into federal contracts. Until that happens, federal contractors likely will not see the Clause in its contracts. Following is a broad summary of the Guidance.