GUAM

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Financial Institutions

• Banks: 3
  • Bank of Guam
  • Bank Pacific, Ltd
  • ANZ Guam, Inc.
• Credit Unions: 2
  • Coast360
  • Community First Guam

Guidance

• Cannabis Control Board Meeting Minutes (7/30/20)
  • Excerpts from Q&A with Insurance, Securities, Banking & Real Estate Branch, Regulatory Division, Department of Revenue & Taxation
    • Mariano: “We are still not able to accept deposits from the cannabis industry. we have been asking to see if we could get a copy of your draft rules and regulations. So that we can see how we could apply or even begin to assess the risks associated with the cannabis industry here in Guam.”
    • Mariano: “The networks currently do not allow the use of credit and debit cards, through their networks.”
    • Elm: “And we have been following the California legal framework for a while. […] Basically, the bank has to build their enhanced due diligence framework and the platform, the main framework would be licensing. If the government of Guam can allow the bank transparency to be able to validate licenses…”
    • Elm: “… for banks, there is no actual reference document that tells us, ‘if you’re going to bank a marijuana related business, make sure you do from a to z in regards to your AML (Anti-Money Laundering) program.'”

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Licensing

• ID Cards
  • Responsible Official
  • Designated Transporter
  • Cannabis Establishment Occupational License: Manager and Employee
• Licenses
  • Type I Cultivation Facility
  • Type II Cultivation Facility License
  • Type III Cultivation Facility License
  • Type IV Micro-Cultivation License
  • Cannabis Production Manufacturing Facility License
  • Cannabis Testing Facility License
  • Retail Cannabis Store

Possession

• Possession limit for adults over 21:
  • 1 ounce of cannabis
  • 8 grams of cannabis concentrate
    • Cannabis products must be <= 800mg of THC
  • 6 cannabis plants, three of which are mature
• Cannabis can be “gifted” to other adults over 21

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• Possession limit for patients:
  • “Adequate supply means an amount of cannabis, in any form approved by the Department, possessed by a qualified patient or collectively possessed by a qualified patient and the qualified patient’s primary caregiver that is determined by rule of the Department to be no more than reasonably necessary to ensure the uninterrupted availability of cannabis for a period of three (3) months and that is derived solely from an intrastate source.”
    • https://www.guamlegislature.com/Bills_Passed_32nd/Bill%20No.%20B215-32%20(COR)%20PASSED.pdf
  • Home cultivation is allowed with an additional permit

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Rules for Selling Cannabis Clear Legal Review

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Guam Cannabis Regulatory Authority

Address:

Medical Cannabis Program Office

Northern Regional Community Health Center

520 West Santa Monica Avenue, Dededo, Guam

Home:

https://dphss.guam.gov/medical-cannabis-information-2/

https://dphss.guam.gov/wp-content/uploads/2020/07/Addition-to-Public-Law-302-34.pdf

https://dphss.guam.gov/wp-content/uploads/2020/07/Amendment-to-Public-Law-343-33.pdf

https://dphss.guam.gov/wp-content/uploads/2020/07/Public-Law-210-34-Rules-and-Regulations.pdf

Inspection Report:

https://dphss.guam.gov/health-inspection-database/

Contact :

Phone: (671) 635-7478

Questions can also be emailed to: medicalcannabis@dphss.guam.gov

Guam Banking Regulatory Authority

GuamTax.com

Banking & Insurance Board

https://www.guamtax.com/bib/index.html

Address:

1240 Army Drive

Barrigada, Guam 96913

Email:

https://www.guamtax.com/app/contactus.do

Insurance, Banking, Securities & Real Estate:

isbre@revtax.guam.gov

Compliance (ABC):

compliance@revtax.guam.gov