Weighing investment opportunities in the marijuana industry? There are many options, not all of which require registry with the state's Marijuana Enforcement Division. (Seth McConnell, Denver Post file)

Cannabist Q&A: How to invest, tourist limits, lease issue

Welcome to our new Ask The Cannabist column. Clearly you have questions about marijuana, be it a legal concern, a health curiosity, a Colorado-centric inquiry or something more far-reaching. Check out our expansive, 64-question Colorado marijuana FAQ first, and if you’re still curious, email your question to Ask The Cannabist at askthecannabist@gmail.com.

Hey, Cannabist!
Can I invest in cannabis companies?
–Rich Uncle Pennybags

Hey, Rich Uncle Pennybags!
Haha, very clever moniker! In all matters related to cannabis and business, consulting the law and a  lawyer is the first step.

Established marijuana attorney Warren Edson advises, “If you are going to invest in a licensed marijuana business in Colorado you must fill out an Associated Person application with Marijuana Enforcement Division (MED), as well as abide by local licensing requirements. MED regulations require you to have at least 2 years Colorado residency as well as passing their background check. MED Rule R231 outlines the requirements. Ancillary businesses, such as packaging, security systems, real estate, HVAC and electrical service companies, do not have residency requirements or felony restrictions.”  

That means, Mr. Pennybags, follow these rules and you won’t go to jail, and hopefully you’ll collect $200 salary as you pass Go!   XO

Read more Cannabist Q&A: Blood donations, synthetic pot, fighting insomnia.

Hey, Cannabist!
Love your “Q&A” series — extremely helpful! I am planning a vacation to Colorado in March. I have a few questions about what’s happening.  

Most things that I can find still say that tourists are allowed to purchase up to a quarter-ounce per visit. I had heard a few times early on that it had been reduced to 3 grams. Do you have any kind of update on that situation? Does it vary from store to store?  Are most stores tourist friendly? Are there certain ones I should avoid when visiting? I don’t want to cause any undue trouble while there.  Are tourists allowed to visit one shop multiple times in a day? Can we visit more than one store each day?    
–Curious in Connecticut

Hey, Curious!  
You are correct, the legal purchase limit is a quarter-ounce for a non-Colorado resident (one ounce for residents). Some centers have a smaller cap on recreational purchases, and it varies from center to center. Northern Lights Cannabis Co. owner, Mitch Woolhiser says that in order to regulate supply and demand, they currently limit all recreational purchases to a quarter-ounce. This purchase limit impacts Colorado residents only, not tourists. You’ll want to call and check before you go to a particular center. (Video: Click to watch Woolhiser talk about his business.)

The tourist-friendly centers are the ones with recreational sales licenses.  Shop for a center you’d like to visit by checking out The Cannabist’s map or Weedmaps.com. Most listings have pictures or video of the center’s interior and a menu of inventory.  Another way to find reputable cannabis centers is searching the membership of cannabis business organizations, like Cannabis Business Alliance or National Cannabis Industry Association.

It’s good your intention is not to cause undue trouble while you are visiting.  Your questions related to repeated purchases make law enforcement nervous. The possession limit for adults in Colorado is one ounce. You can go from center to center and purchase quarter-ounces until you have one ounce, but the po-po have a term for that, it’s called smurfing.

Besides, a quarter-ounce is plenty of pot for personal use while you are vacationing in Colorado, even if you are recreating scenes from your favorite stoner movie all day long.   You can’t legally cross state lines with your cannabis, and as exciting as buying legal marijuana is, I’m sure you would rather do something more fun with your vacation time than stand in long lines over and over and over again.  XO  

Even more Cannabist Q&A: Hotel policies, treating anxiety, home growing.

Hey, Cannabist!
We just received a letter from our property managers saying “the possession, consumption, use, display, transfer, sale, transportation, or growing of marijuana on any Benedict  Park Place will be a lease violation  and may be subject to eviction.”  How can they ban a legal product? I doubt they could do this with alcohol. A response would be appreciated. Thanks!  
–Peeved on Park Ave.

Hey, Peeved!  

I asked marijuana attorney, Sean McAllister, for the scoop. Unfortunately, yes, it is legal for your landlord to ban cannabis use on their private property, even your swanky pad.  Landlords can put conditions in leases, barring even lawful activities, from their property.

Debbie Ross, president of the Ross Management Group that oversees Benedict Park Place,  cites Article 18 Section 16- 6(d) of Colorado constitution, which gives the company the authority to prohibit marijuana on their owned or controlled properties.

Check out your lease, there is probably a clause regarding unlawful activities. Since cannabis is still illegal federally to use,  display, etc., that can fall under this clause.  McAllister recommends finding another rental without this restriction by talking to your landlord up front about cannabis. I’d like to know when is your next house party?  XO