Oklahoma Cannabis Surety Bond
Oklahoma medical marijuana grower licensees are required to post a cannabis surety bond of at least $50,000 per license as a condition of OMMA licensure. OMMA may require a higher bond amount depending on the reclamation requirements for the specific grow operation. The bond is administered by the Oklahoma Medical Marijuana Authority (OMMA), the state agency responsible for licensing and regulating commercial medical marijuana businesses under State Question 788 and subsequent statutes.
We have been writing surety bonds since 1971. If you are facing this requirement, call us at 800-333-7800 or request a free quote online. Cannabis bond regulations are fairly new and constantly changing, so feel free to reach out to us regarding the latest underwriting and pricing policies that apply to your specific situation.
Who Needs an Oklahoma Cannabis Bond?
The current bond requirement applies primarily to grower license applicants and licensees. Grower applicants must submit either:
- A surety bond covering the permit area on which the licensee will conduct commercial growing operations, or
- An attestation and accompanying documentation showing that the permit area has been owned by the licensee for at least 5 years before submitting the application.
For processor, dispensary, and other commercial license categories, requirements may differ. Call us at 800-333-7800 to confirm what applies to your specific license type and OMMA’s current rules.
Oklahoma Grower Bond Amount
The bond amount is at least $50,000 per license, with the exact amount subject to OMMA discretion based on reclamation requirements. Reclamation requirements vary based on the scope and physical characteristics of the grow facility, so the bond size for any specific operation may be larger than the $50,000 minimum.
Statute and Regulator
Oklahoma’s medical marijuana program was created by State Question 788 (2018) and is codified primarily in Title 63 of the Oklahoma Statutes. The program is administered by the Oklahoma Medical Marijuana Authority (OMMA), which sits within the Oklahoma Department of Health.
What Underwriting Looks Like
A $50,000 bond is large enough that carriers underwrite carefully. As a general rule, bonds over $10,000 typically require a credit check on the company owners, and bonds at this size may require basic financials. For larger bonds tied to bigger grow operations, expect more substantial underwriting.
Cannabis bond underwriting standards are evolving, so reach out to us at 800-333-7800 for guidance specific to your situation.
Oklahoma Cannabis Bond FAQs
How much is the Oklahoma grower bond?
At least $50,000 per license. OMMA may require a higher amount based on the reclamation requirements for your specific grow.
Who is the obligee?
The Oklahoma Medical Marijuana Authority (OMMA).
Are there alternatives to posting a bond?
Grower applicants may instead submit an attestation that the permit area has been owned by the licensee for at least 5 years before the application. Confirm with OMMA whether this alternative applies to your situation.
What about processor and dispensary licenses?
Requirements may differ by license category. Call us at 800-333-7800 to confirm what applies to your specific license type.
How long does it take to get bonded?
Timelines depend on the size of the bond and your credit. Call us at 800-333-7800 and we will tell you exactly where you stand.
Get Your Oklahoma Cannabis Bond Today
We have been writing surety bonds since 1971 and we work with the carriers that have appetite for Oklahoma medical cannabis grower bonds. Call 800-333-7800 or request a free quote online. See our national cannabis surety bond page for broader context.