Mich. Admin. Code R. 420.10 - Proof of financial responsibility; insurance
Rule 10.
(1) Before
a marihuana license is issued or renewed, the licensee or renewal applicant
shall file a proof of financial responsibility for liability for bodily injury
to lawful users resulting from the manufacture, distribution, transportation,
or sale of adulterated marihuana or adulterated marihuana-infused products on
the form prescribed by the agency, for an amount not less than $100,000.00. If
the proof required in this subrule is a bond, the bond must be in a format
acceptable to the agency.
(2) In
addition to the requirements in subrule (1) of this rule, a marihuana
transporter shall show proof of auto insurance, vehicle registration, and
registration as a commercial motor vehicle, as applicable, for any vehicles
used to transport marihuana product as required by the acts and these
rules.
(3) For an applicant seeking
licensure for a marihuana event organizer license under the MRTMA, proof of
financial responsibility for liability for bodily injury is not required. A
marihuana event organizer licensee shall file a proof of financial
responsibility for liability for bodily injury when applying for a temporary
marihuana event license or proof that each marihuana microbusiness, class A
marihuana microbusiness, and marihuana retailer participating in the temporary
marihuana event has coverage for liability for bodily injury when applying for
a temporary marihuana event license.
(4) In addition to the proof of financial
responsibility requirements contained in subrule (1) of this rule, a renewal
applicant or licensee holding a license under the MMFLA shall also carry
commercial general liability insurance covering premises liability for an
amount not less than $100,000.00. An applicant shall provide proof of
commercial general liability insurance covering the premises liability to the
agency no later than 60 days after a state operating license is issued or
renewed.
Notes
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