SB 23-045

Senate Bill 23-045 requires people who want to get or renew a license for selling marijuana in Colorado to show they have insurance coverage of at least $100,000. This insurance covers any injuries that customers might suffer from using contaminated marijuana products. The bill is now signed into law, meaning it has been approved by the government and is officially in effect.

Official Summary

The bill prohibits the state licensing authority from issuing or renewing a marijuana license unless the applicant or licensee shows proof of financial responsibility in an amount of not less than $100,000 for each license. The mechanism of financial responsibility must include coverage for liability for bodily injury to lawful users resulting from the manufacture, distribution, transportation, or sale of adulterated marijuana or adulterated marijuana-infused products.(Note: This summary applies to this bill as introduced.)