feature in the weeds: Getting Requirements for marijuana surety bonds MEdICAL MArIJUANA IS currently legal in 23 states and Washington, DC. recreational marijuana is currently legal in two states (Colorado and Washington). In an effort to regulate the new businesses involved in this legalized yet controversial industry, several states have enacted laws that require marijuana surety bonds as a condition of business licensure. These commercial surety bonds are authorized by statute and reflect various regulatory schemes in the states and localities. This means that the bonds in each jurisdiction will have different penal sums and bond conditions. The scope of coverage for 26 surety BoNd Quarterly | FAll 2014 each bond will be interpreted consistent with the statute, ordinance, or regulation on which the specific bond is based. This article briefly discusses some of the current "marijuana surety bond" requirements. What is clear is that various jurisdictions are struggling with how to regulate the industry and what kind of bond mandates should be implemented. COLORADO In 2000 Colorado legalized the use of medicinal marijuana sold by designated and approved medical marijuana dispensaries. At that time Colorado became the first state to require a medical marijuana bond. Colorado requires medical marijuana dispensaries to post a $5,000 bond as a condition of licensure, with the Colorado Department of revenue as the obligee; and the bond must be renewed each year. The Colorado Medical Marijuana license Bond is conditioned on the principal reporting and paying all sales and use taxes due the state. Dispensaries located in the City of Denver are required to carry an additional City of Denver medical marijuana surety bond in the amount of $5,000.