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Code · BILL · 116th Congress · H.R. 1595 (Engrossed in House) — To create protections for depository institutions that provide financial services to cannabis-related legitimate busi... · Sec. 12

Sec. 12. Application of safe harbors to hemp and CBD products

107 words·~1 min read·/bill/116/hr/1595/eh/section-12

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Except as provided under subsection (b), the provisions of this Act (other than sections 6 and 10) shall apply to hemp (including hemp-derived cannabidiol and other hemp-derived cannabinoid products) in the same manner as such provisions apply to cannabis. In applying the provisions of this Act described under subsection
(a)to hemp, the definition of cannabis-related legitimate business shall be treated as excluding any requirement to engage in activity pursuant to the law of a State or political subdivision thereof. In this section, the term hemp has the meaning given that term under section 297A of the Agricultural Marketing Act of 1946 ( 7 U.S.C. 1639o ).
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Sec. 12
Application of safe harbors to hemp and CBD products
U.S.C.§ 1639o
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