ENGROSSED SUBSTITUTE HOUSE BILL 2472
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State of Washington | 65th Legislature | 2018 Regular Session |
By House Commerce & Gaming (originally sponsored by Representatives Vick, Blake, Sawyer, Condotta, Kloba, and Young)
READ FIRST TIME 01/22/18.
AN ACT Relating to ensuring reasonable terms of payment are available to marijuana retailers when contracting with marijuana processors for the purchase of marijuana products; and amending RCW
69.50.395.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 69.50.395 and 2017 c 317 s 16 are each amended to read as follows:
(1)(a) A licensed marijuana business may enter into a licensing agreement, or consulting contract, with any individual, partnership, employee cooperative, association, nonprofit corporation, or corporation, for:
(((a))) (i) Any goods or services that are registered as a trademark under federal law or under chapter
19.77 RCW;
(((b))) (ii) Any unregistered trademark, trade name, or trade dress; or
(((c))) (iii) Any trade secret, technology, or proprietary information used to manufacture a cannabis product or used to provide a service related to a marijuana business.
(((2))) (b) All agreements or contracts entered into by a licensed marijuana business, as authorized under this section, must be disclosed to the state liquor and cannabis board.
(2)(a) Except as provided in (b) and (c) of this subsection (2), a contract between a licensed marijuana producer, marijuana processor, or marijuana retailer, and another licensed marijuana producer, marijuana processor, or marijuana retailer, for the purchase and sale of marijuana or marijuana products authorized under RCW 69.50.325, may allow the licensee purchasing the marijuana or marijuana products to tender full or final payment to the licensee selling the marijuana or marijuana products on a date after the date the marijuana or marijuana products are delivered to or received by the licensee purchasing the marijuana or marijuana products. (b) However, the licensee purchasing the marijuana or marijuana products must tender full or final payment to the licensee selling the marijuana or marijuana products on a date not more than five calendar days after the date the marijuana or marijuana products are delivered to or received by the licensee purchasing the marijuana or marijuana products.
(c) This subsection (2) applies to contracts entered or renewed on or after the effective date of this section.
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