MI SB0461

Requires medical marijuana licensees to provide proof of liability insurance of at least $100,000 per license before the marijuana regulatory agency grants or renews any license.

Mandates insurance be issued by a licensed insurance company or captive insurance company in Michigan and prohibits policy conditions that relieve the insurer from liability for claims under the act.

Covers bodily injuries to qualifying patients caused by adulterated marijuana or marijuana-infused products, including injuries from intentional conduct, except when the licensee or employee acted with intent to harm.

Requires licensees to file an attestation of compliance signed by an officer of the issuing insurance company, and immediately suspends licenses if proof of financial responsibility lapses.

Licensees must provide 30 days' notice before canceling insurance and procure replacement coverage within 30 days; does not take effect unless Senate Bill No. 462 is also enacted.