The next step is obtaining the same information for discontinued products and completed projects for the past five to 10 years, depending on the products or projects involved. This should include an explanation of why the products were discontinued. If some completed projects were of a different type than those currently being worked on, an explanation is in order, including whether the insured may resume them in the future.
If you’re thinking about starting up a MI CBD oil business, there are a number of things that you need to keep in mind so that you can set yourself up for success. One of the most important factors that you need to consider is insurance. Like any industry, there are a number of risks that can be associated with making or selling products that contain CBD oil.
Premises liability exposure is normally low due to limited access by visitors. If tours are offered, visitors may be injured by slips, trips, or falls, or may be exposed to toxic or caustic chemicals. Floor coverings should be in good condition, no frayed or worn spots on carpet and no cracks or holes in flooring. Steps and uneven floor surfaces should be prominently marked. Enough exits must be provided and be well marked, with backup lighting systems in case of power failure.
Economic Trends for Businesses In Michigan
To learn more about the policies you should invest in and how much CBD oil and hemp insurance Michigan coverage you should carry, speak with a reputable insurance broker.
In the state of MI, business owners are not legally required to carry liability insurance; but most entrepreneurs opt to invest in a General Liability or Business Owner’s Policy (BOP). A commercial auto insurance policy is also required for any businesses that use motor vehicles to conduct any aspect of their business operations. Workers’ compensation insurance is also required for any businesses with non-owner employees. While the following forms of coverage are not required, depending on the type of business you operate, they are recommended:
Why do CBD manufactures and distributors need commercial CBD oil and hemp insurance Michigan? What type of coverage should they carry? Read on to find the answers to these questions so you can keep your business, your clients, your employees – and yourself – protected.
What does the insured does that could result in a covered loss? The insuring agreement only requires that the insured be legally obligated to pay damages for injury to others or damage to their property included within the products-completed operations hazard covered by the insurance.
If you require marijuana for medical purposes, Michigan is one of the best places to be in America. Here’s why …
First of all, there is no need to drive all around the city to find the products you want. There is a huge variety of CBD products available online (creams, lotions, tinctures, wax, etc.) to suit your personal needs.
YES! CBD is legal to purchase across the Great Lake State. As I mentioned earlier, however, the laws change if your oils are marijuana- or industrial hemp-derived.
You Cannot Apply to Be a Medical Marijuana Grower If You:
But, without a medical marijuana license, there is currently no legal way to obtain these CBD products in Michigan.
But if you can’t wait that long, don’t stress! You should still be able to find industrial hemp CBD in vape stores and natural health retailers.
On the other hand, CBD derived from industrial hemp contain only trace amounts of THC (usually less than 0.3%) and won’t get you high. These products are a great way to take advantage of the benefits of CBD without worrying about psychoactive effects.
If you fit those qualities, then you will need to download and complete the Michigan Medical Marijuana Program application found here and schedule an appointment with a state-licensed marijuana doctor.
Most raw cannabis strains on the market today contain small amounts of CBD, especially compared with THC. But since the cannabinoid has gained considerable attention for its wide range of purported therapeutic benefits, more high-CBD strains have recently been cultivated.
Under current legislation, growers must submit samples of their industrial hemp harvest for testing. If the crop tests above 0.3% THC concentration, the grower may elect to test the crop an additional two times. If, after three tests, the harvest still shows THC levels in excess of 0.3% concentration, the crop will be confiscated and destroyed.
Full-spectrum CBD oil means the extract contains cannabis-derived terpenes and trace amounts of cannabinoids such as THC. Broad-spectrum also includes other cannabis compounds but has had THC removed during the processing phase. CBD isolate is a pure crystalline powder containing only CBD.
There are no possession limits for CBD derived from hemp.
The 2018 Farm Bill re-classified hemp as an agricultural commodity and made its cultivation federally legal. Further, the act removed some forms of cannabis from Schedule 1 status by creating a legal distinction between hemp and marijuana. Hemp is cannabis with less than 0.3% THC, and marijuana refers to cannabis with more than 0.3% THC. This distinction in federal law effectively legalized CBD that is derived from cannabis with less than 0.3% THC, as long as it has been cultivated according to federal and state regulations.