Robert Praml has worked since January to get the first medical marijuana shop approved in Libby. His store We Caregivers opened May 15th.
"I pulled in probably 15 caregivers to come into the store with me as a coop to take care of patients," says Praml.
State and city officials are asking medical marijuana shops to be transparent in their business transactions. Three days ago, however, Robert went to the First Montana Bank and Glacier Bank. He got a letter telling him he couldn't open a personal or professional account. It was the same story at Glacier Bank. Both cite his legal medical marijuana shop as the problem.
"We're trying to do things legally, and we can't do that if people don't cooperate with us," says Praml.
By putting money in the bank, the state can track how much money is coming in and out of the shops. Some Montana owned banks are insured by the FDIC. It's federal, and the federal government doesn't allow the distribution of medical marijuana. The state does. The banks say they're caught in the middle of conflicting state and federal rules. Primarily, banks like First Montana Bank and Glacier Bank say they don't want to be tied to the stigma that goes with marijuana.
We talked with First Montana Bank. They confirmed that federal law for them dictates under what conditions they can open accounts.
"The legislature needs to sit down with the lawmakers and figure out what we're doing so we know," says Praml.
Caregivers like Robert can only wait and wonder how to run a legal business while banks wait for clearer laws about medical marijuana.
NewsHawk: Ganjarden: 420 MAGAZINE
Source: News Channel 13 KECI
Author: Jessica Headley
Contact: News Channel 13 KECI
Copyright: 2010 News Channel 13 KECI
Website: Banks and medical marijuana caregivers debate over state and federal laws
"I pulled in probably 15 caregivers to come into the store with me as a coop to take care of patients," says Praml.
State and city officials are asking medical marijuana shops to be transparent in their business transactions. Three days ago, however, Robert went to the First Montana Bank and Glacier Bank. He got a letter telling him he couldn't open a personal or professional account. It was the same story at Glacier Bank. Both cite his legal medical marijuana shop as the problem.
"We're trying to do things legally, and we can't do that if people don't cooperate with us," says Praml.
By putting money in the bank, the state can track how much money is coming in and out of the shops. Some Montana owned banks are insured by the FDIC. It's federal, and the federal government doesn't allow the distribution of medical marijuana. The state does. The banks say they're caught in the middle of conflicting state and federal rules. Primarily, banks like First Montana Bank and Glacier Bank say they don't want to be tied to the stigma that goes with marijuana.
We talked with First Montana Bank. They confirmed that federal law for them dictates under what conditions they can open accounts.
"The legislature needs to sit down with the lawmakers and figure out what we're doing so we know," says Praml.
Caregivers like Robert can only wait and wonder how to run a legal business while banks wait for clearer laws about medical marijuana.
NewsHawk: Ganjarden: 420 MAGAZINE
Source: News Channel 13 KECI
Author: Jessica Headley
Contact: News Channel 13 KECI
Copyright: 2010 News Channel 13 KECI
Website: Banks and medical marijuana caregivers debate over state and federal laws