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. 3

Sec. 3. Protections for ancillary businesses

88 words·~1 min read·/bill/117/s/910/is/section-3

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

For the purposes of sections 1956 and 1957 of title 18, United States Code, and all other provisions of Federal law, the proceeds from a transaction involving activities of a cannabis-related legitimate business or service provider shall not be considered proceeds from an unlawful activity solely because— the transaction involves proceeds from a cannabis-related legitimate business or service provider; or the transaction involves proceeds from— cannabis-related activities described in section 14(4)(B) conducted by a cannabis-related legitimate business; or activities described in section 14(13)(A) conducted by a service provider.