Organization, Ownership, and Control Disclosure
Pursuant to COMAR 14.17.16.02, each licensee must submit information regarding ownership and control by July 1 each year, within 10 days of any change of ownership or control greater than 5% or upon request of MCA.
Licensees must submit to the Maryland Cannabis Administration:
1) A chart or table demonstrating the corporate structure of the licensee that identifies:
- The names of any parent, holding, affiliate, or subsidiary companies; and
- The relationship between the parent, holding, affiliate, or subsidiary companies and the licensee.
Important: this includes any third-party "management company" that operates the licensee's business. The licensee must upload a chart or table demonstrating the relationship between the management company and any parent, holding, affiliate, or subsidiary of the management company.
2) A hierarchical organizational chart of the licensee, which identifies the name and office/title of any:
- Members of the Board of Directors;
- Principal and/or corporate officers (e.g. Chief Executive Officer, Chief Operating Officer, Senior Vice President, etc.); and
- Members of management (including anyone who has a role in the day-to-day management of the licensee).
Failure to submit an Organization, Ownership, and Control Disclosure by July 1 of each year will result in a fine and/or sanction.
Annual Agent Verification Report
A licensee or registered ancillary business must submit an Annual Agent Verification Report no later than January 30 of each year. The purpose of this report is to verify whether any registered agent employed by the licensee or registered ancillary business was convicted of a felony drug offense during the calendar year preceding the date on which the report is due. COMAR 10.62.09.09, COMAR 10.62.20.09, COMAR 10.62.26.09
All licensees and registrants will use the same Annual Agent Verification Report Form to upload a searchable PDF document that contains the full legal name of each registered agent employed at any point during the reporting period (January 1 to December 31).
Failure to submit an Annual Agent Verification Report by January 30 of each year will result in a fine and/or sanction.
Annual Minority Report
On or before August 1 of each year, each licensee or registrant must report to the MCA on: (1) the number of minority and women owners of the licensee; (2) the ownership interest held by any of any minority and women owners of the licensee; and (3) the number of minority and women employees of the licensee. (See Alcoholic Beverages and Cannabis Article, § 36-801)
Licensees and registrants must complete the
Minority Report Form by entering the cumulative number of
owners/investors who fall within each of the race and gender categories listed in the form, as well as the cumulative percentage of ownership interest each race category holds. The Minority Report Form will automatically calculate the total number and ownership percentage of males and the total number and ownership percentage of females.
Please note that the combined ownership percentage of males + females must = 100%.
- Licensees and registrants must report based on all owners or equity investors. If the licensee or registrant is a business entity with publicly traded stock, they must report based on all controlling owners (owners/investors with ownership of 5% or more of the voting shares.)
In the Minority Report Form, licensees and registrants must also provide the cumulative number of employees who fall within each of the race/ethnic and gender categories listed. The Minority Report Form will automatically calculate the total number of males and the total number of females.
Failure to submit a Report of Minority Owners and Employees by August 1 of each year will result in a fine and/or sanction.
