Licensed Illinois cannabis dispensaries are required to be licensed with the state’s Department of Financial and Professional Regulation. Besides meeting other requirements, a licensed Illinois cannabis dispensary is also required to obtain a $50,000 surety bond. AmeriPro Surety Bonds offers this surety bond both as a first time and renewal surety bond.
The purposes of the Illinois cannabis dispensary bond are for the following reasons: Finally, the bond acts as a guarantee that you will conduct your business operations in accordance with the Illinois Compassionate Use of Medical Cannabis Pilot Program Act. The bond protects the Department from any acts of fraud, theft, or criminal malfeasance as it refers to the starred items mentioned above.
The premium for your $50,000 Illinois cannabis dispensary surety bond will be a small fraction of the bond’s overall face amount. The premium amount will be determined by an application and, principally, by your credit score. Once purchased from our agency, the bond is active for one year from its effective date. The cannabis dispensary bond must be kept active and current at all times as a condition of maintaining your cannabis dispensary license in good standing with the Department.
AmeriPro Surety Bonds is a surety bonds-only agency which provides all types of surety bonds throughout Illinois. Realizing that you have many choices for surety, we thank you for your consideration and look forward to working with you. The cannabis dispensary bond may take a few hours to obtain, depending on the time of day that the application is taken and submitted. Once purchased, it will be mailed by the next business day at the latest. It can also be sent overnight for an extra fee.
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