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Code · BILL · 117th Congress · S. 910 (Introduced in Senate) — To create protections for financial institutions that provide financial services to cannabis-related legitimate busin... · Sec. 11

Sec. 11. Application of this act with respect to hemp-related legitimate businesses and hemp-related service providers

301 words·~1 min read·/bill/117/s/910/is/section-11

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The provisions of this Act (other than sections 6 and 10) shall apply with respect to hemp-related legitimate businesses and hemp-related service providers in the same manner as such provisions apply with respect to cannabis-related legitimate businesses and service providers. In this section: The term CBD means can­na­bi­diol. The term hemp has the meaning given that term under section 297A of the Agricultural Marketing Act of 1946 ( 7 U.S.C. 1639o ). The term hemp-related legitimate business means a manufacturer, producer, or any person or company that— engages in any activity described in subparagraph
(B)in conformity with the Agricultural Improvement Act of 2018 ( Public Law 115–334 ) and the regulations issued to implement such Act by the Department of Agriculture, where applicable, and the law of a State or political subdivision thereof or Indian Tribe; and participates in any business or organized activity that involves handling hemp, hemp-derived CBD products, and other hemp-derived cannabinoid products, including cultivating, producing, drying, storing, extracting, remediating, purifying, testing, manufacturing, selling, transporting, transferring, displaying, dispensing, distributing, or purchasing hemp, hemp-derived CBD products, and other hemp-derived cannabinoid products. The term hemp-related service provider — means a business, organization, or other person that— sells goods or services to a hemp-related legitimate business; or provides any business services, including the sale or lease of real or any other property, legal or other licensed services, or any other ancillary service, relating to hemp, hemp-derived CBD products, or other hemp-derived cannabinoid products; and does not include a business, organization, or other person that participates in any business or organized activity that involves handling hemp, hemp-derived CBD products, or other hemp-derived cannabinoid products, including cultivating, producing, drying, storing, extracting, remediating, purifying, testing, manufacturing, selling, transporting, transferring, displaying, dispensing, distributing, or purchasing hemp, hemp-derived CBD products, and other hemp-derived cannabinoid products.
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Sec. 11
Application of this act with respect to hemp-related legitimate businesses and hemp-related service providers
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