assembly Bill A9364

2021-2022 Legislative Session

Requires the sale or delivery of cannabis products by distributors to retailers be in exchange for cash to be paid at the time of delivery or on terms requiring payment by such retailer for such cannabis

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 23, 2022 referred to economic development

A9364 (ACTIVE) - Details

Law Section:
Cannabis Law
Laws Affected:
Add §78-a, Cannabis L

A9364 (ACTIVE) - Summary

Requires the sale or delivery of cannabis products by distributors to retailers be in exchange for cash to be paid at the time of delivery or on terms requiring payment by such retailer for such cannabis products.

A9364 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9364
 
                           I N  A S S E M B L Y
 
                             February 23, 2022
                                ___________
 
 Introduced  by  M. of A. PEOPLES-STOKES -- read once and referred to the
   Committee on Economic Development
 
 AN ACT to amend the cannabis law, in relation to requiring that the sale
   or delivery of cannabis products by distributors to  retailers  be  in
   exchange  for  cash  to  be  paid  at the time of delivery or on terms
   requiring payment by such retailer for such cannabis products

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The cannabis law is amended by adding a new section 78-a to
 read as follows:
   § 78-A. TERMS OF SALE. 1. AS USED IN THIS SECTION:
   A.  "CREDIT  PERIOD"  MEANS  A  PERIOD  BEGINNING ON THE DATE CANNABIS
 PRODUCTS ARE DELIVERED AND ENDING THIRTY DAYS THEREAFTER.
   B. "PAYMENT PERIOD" MEANS THE PERIOD BEGINNING ON  THE  DATE  CANNABIS
 PRODUCTS  ARE  DELIVERED  AND  ENDING ON THE THIRTIETH DAY FOLLOWING THE
 DATE ON WHICH CANNABIS PRODUCTS ARE DELIVERED.
   C. "FINAL PAYMENT DATE" MEANS THE LAST DAY OF A PAYMENT PERIOD.
   D. "NOTIFICATION DATE" MEANS, NOTWITHSTANDING SECTION  TWENTY-FIVE  OF
 THE GENERAL CONSTRUCTION LAW, FOR DELIVERIES ON:
   (I) MONDAY, THE MONDAY IMMEDIATELY FOLLOWING A FINAL PAYMENT DATE;
   (II)  TUESDAY,  THE  TUESDAY  IMMEDIATELY  FOLLOWING THE FINAL PAYMENT
 DATE;
   (III) WEDNESDAY, THE WEDNESDAY IMMEDIATELY FOLLOWING THE FINAL PAYMENT
 DATE;
   (IV) THURSDAY, THE THURSDAY IMMEDIATELY FOLLOWING  THE  FINAL  PAYMENT
 DATE;
   (V) FRIDAY, THE FRIDAY IMMEDIATELY FOLLOWING THE FINAL PAYMENT DATE.
   E.  "RETAILER"  MEANS  A  PERSON LICENSED TO SELL CANNABIS PRODUCTS AT
 RETAIL  FOR  ON-PREMISE  CONSUMPTION  OR  FOR  OFF-PREMISE   CONSUMPTION
 (INCLUDING  A  PERSON  HOLDING A PERMIT GRANTED BY THE BOARD PURSUANT TO
 THIS ARTICLE).
   F. "CANNABIS PRODUCT" SHALL HAVE THE  SAME  MEANING  AS  THE  TERM  IS
 DEFINED IN SUBDIVISION NINE OF SECTION THREE OF THIS CHAPTER.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14635-01-2