H.F. No. 5273 - Cannabis Business Ownership and Financing

• Establishes "true party of interest" definition for cannabis businesses including sole proprietors, all partners, all LLC members and managers, corporate officers/directors/stockholders, and any entity receiving revenue or exercising control over the business.

• Limits married couples to ownership of no more than one cannabis microbusiness, one mezzobusiness, five retailer businesses, three cultivator businesses, or three manufacturer businesses.

• Requires cannabis businesses to disclose the source of all money invested in the business, including funds from non-institutional financiers, before the money is invested, with exceptions for reinvested revenues and previously approved revolving loans.

• Prohibits financiers from receiving ownership interests, business control, revenue shares, profit shares, or profit percentages unless they receive office approval and qualify as a true party of interest on the license.

• Mandates financial and criminal background investigations on all financiers providing money to cannabis businesses.