Cannabidiol News Dec 3, 2019
“Because hemp is no longer a Schedule I controlled substance under the Controlled Substances Act, banks are not required to file a Suspicious Activity Report (SAR) on customers solely because they are engaged in the growth or cultivation of hemp in accordance with applicable laws and regulations,” the memo states. “For hemp-related customers, banks are expected to follow standard SAR procedures, and file a SAR if indicia of suspicious activity warrants.”
For now, the people must be content with each state’s individual ordinance against or for the legal use of hemp in each of these areas. Here are some additional details regarding the allowed amount of hemp in each state.
- Alabama, Colorado, and Maine allow production and delivery of hemp as long as it has less than 3% of THC in it.
- On the other hand, Indiana, Texas, and Utah require QR codes to allow this a delivery and distribution of CBD-based products.
- In New York, some CBD-based products are allowed. However, there are a few that will remain uncertain about using this particular product as an additive in recipes.
- California allows CBD-based food products as long as there are proper certification and labeling within the packaging itself.
- New bills and ordinances could be passed for or against CBD Products and its producers in North Carolina.
- In Alaska, officials will only place and enact new guidelines regarding hemp, its production, and use upon successful testing.