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20 CAR § 800-310. Licensing fee and issuance of license
20 CAR § 800-310. Licensing fee and issuance of license.
(a)(1) Within seven (7) days of receiving written notice of selection from the Medical Marijuana Commission, the selected applicant for a dispensary license shall submit to the commission a dispensary license fee of fifteen thousand dollars ($15,000) in cash or certified funds.
(2) Any certified or cashier’s check shall be made payable to the State of Arkansas.
(b) If the licensing fee is not timely paid, the selected applicant will be disqualified, and the commission shall select the next highest scoring applicant within that particular zone.
(c)(1) Within seven (7) days of receiving written notice of selection from the commission, the selected applicant shall submit to the commission a performance bond in the amount of one hundred thousand dollars ($100,000).
(2) The bond shall be maintained until the dispensary files its first application for renewal of the license.
(d) If the performance bond is not timely posted, the selected applicant will be disqualified, and the commission shall select the next highest scoring applicant within that particular zone.
(e) A license that is initially issued between January 1 and July 1 may have the licensing fee prorated up to fifty percent (50%) of the total fee as determined by the commission.
(f) Upon issuance of a dispensary license, and following inspection required by Alcoholic Beverage Control Division rules, the dispensary licensee may begin operations.
(g) The dispensary licensee shall visibly post a copy of its license at the dispensary covered under the license.