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How Much Does an Oklahoma Commercial Medical Marijuana Grower License Bond Cost?
The cost of an Oklahoma commercial medical marijuana grower license bond, also referred to as a medical marijuana bond, ranges from $500 to $5,000. The state requires growers to have a $50,000 surety bond. You can purchase the required bond at a bond premium from an authorized Oklahoma surety company.
Our surety company is authorized to sell bonds in Oklahoma, and we provide bonds at a rate of 1% to 10% of the required amount. We have proudly served our customers for more than a decade and are honored to be your trusted source for a commercial medical marijuana grower license bond.
Your new surety bond’s rate is based on several factors. These key factors are your financial assets, professional credentials and credit rating. Applicants with all credit scores are considered. We provide surety bonds to approximately 99% of our applicants.
With a score of 700 or better, the bond rate is between 1% to 3%. The bond’s cost will then be from $500 to $1,500.
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Surety Bond Cost Based on Credit Score |
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Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
|
Oklahoma Commercial Medical Marijuana Grower License Bond |
$50,000 |
$500 - $1,500 |
$1,500 - $2,500 |
$2,500 - $5,000 |
How to Get an Oklahoma Commercial Medical Marijuana Grower License Bond
1. Apply For Your Bond
Applying for a commercial medical marijuana grower license bond only takes a few minutes when you apply through our surety company. Simply complete the online application to get started.
2. Get Your Bond Quote
We review all bond applications as soon as they are submitted. Most applicants benefit from a quick bond quote. For applications that require additional review, a quote is available within 48 hours.
Thomas contacted us when he was applying for an Oklahoma grower’s license. Because of how fast and easy our application process is, he had a quote within a few minutes. Soon after paying his premium, Thomas received the bond in his inbox and was able to finish the license application.
3. Buy Your Bond
To complete your bond purchase, use our payment portal to make the bond premium payment conveniently online. Soon after doing so, we will email your bond to you. If requested, we can also mail it.
Do you need assistance with your bond purchase? Our bond specialists are available to help. Contact us online or by phone at (877) 514-5146.
Apply for a free no-obligations quote on your surety bond!
Commercial Medical Marijuana Grower License Bond Requirements in Oklahoma
Per Senate Bill 913 (2023), a surety bond is required to apply for a commercial medical marijuana grower license in Oklahoma. The bond amount required is $50,000. The obligee for a medical marijuana grower license bond is the Oklahoma Medical Marijuana Authority.
The bond remains active until it is canceled by the surety company. To cancel the bond, the surety company must provide the obligee and the principal with a 30-day written notice.
After a claim is filed against the bond, the surety company must investigate the claim’s validity within 30 days. Claims may be brought against the bond up to one year after the cancellation date.
The bond premium must be paid each year. To support you with maintenance of your bond, we will provide you with a renewal reminder and updated payment instructions prior to the due date.
How to Get Your Commercial Medical Marijuana Grower License in Oklahoma
The Oklahoma Medical Marijuana Authority is the responsible authority for grower, producer, dispensary and other types of medical marijuana licenses in the state. To apply for a commercial medical marijuana grower license, the following items are required:
- Application
- Attestation of Land Ownership
- Fingerprint scans with a background check
- Certificate of Occupancy
- License fee
- Surety bond form
For additional information about the requirements for a commercial medical marijuana grower license in Oklahoma, contact:
Oklahoma Medical Marijuana Authority
P.O. Box 262266
Oklahoma City, OK 73126
Phone: (405) 522-6662
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Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
