Samantha Moore

(623) 251-6705

Las Vegas, Nevada Medical Marijuana Cultivator Bond

What is a Medical Marijuana Cultivator Bond?

This bond is a requirement of the City of Las Vegas, NV. This bond must be obtained in order for an applicant to be granted a license to own and operate a medical marijuana facility and/or a retail dispensary. The purpose of the bond is to provide protection for the state against any loss suffered due to claims and litigation arising from the issuance, operations or ownership of a Medical Marijuana Establishment license. Furthermore the bond stands as a pledge by the applicant to uphold and abide by these conditions, rules and regulations established and enforced by the City of Las Vegas, NV and to ensure payment of all fees and penalties imposed by the City of Las Vegas. It is to give the state recourse and the ability to recoup money that is owed and not paid by the party who is licensed.

Bond Amount

The bond amount is set by the state of NV and the amount of this bond is set at $250,000.00. However the amount is subject to change per the states discretion.

How Much does the Bond Cost?

The cost of the Bond can vary from each individual applicant and the applicant's information. The rate is determined by underwriting the company's financial strength, as well as any and all owner's personal financials and personal credit, who have a 10% or more ownership in the business. Do to the bond amount that is required for this particular bond, we will need all owners with 10% or more ownership to complete and provide personal financial statement on themselves, to get a quote for this bond. We then provide the information to all our markets who will write these bond types, which helps to ensure we have obtained the lowest rate possible. The rates are calculated on an annual basis and can range from 2% to 20%. Generally the more information provided and the better the credit and financial support of the applicant, then the lower the rate is that we can obtain.

Obtaining the Marijuana Cultivator Bond

The process to obtain this bond is really very simple. To obtain this bond, we just need a completed application on each owner with 10% or more ownership in the business, as well as a completed personal financial statement on each owner. I have applications and personal financial statement forms you can complete, or if you have one you already have done with someone else, you can always send that to us and we can use that too. You can contact me direct for these forms, via my information listed in this website, either by phone, fax or email. Once this information is obtained we can get you a quote usually within 24 hours. Please contact me for an application to get started or if you have any questions regarding bonds.

By: Samantha Moore

I provide quotes to my clients for all types of Surety Bonds. I provide competitive quotes in all 50 states. Feel free to contact me to get your bond request moving forward. Complete the contact form on the page to send me an email or call me at (623) 251-6705.

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SamanthaMoore

Samantha
Moore
(623) 251-6705

About This Site

SuretyBonds.Biz is a website for Viking Bond Service, Inc. producers to provide information about frequently requested surety bonds in their words. Viking producers specialize in surety bonds of all types. Since bonds are the sole product provided by Viking, the producers are an excellent resource for information and assistance.