Presented by: Richard A. Spiers, CPCU, ARM, ARe and Thomas J. Lyons, Esq. The Changing World of Marijuana: Did You Inhale? March 7, 2016

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Today’s Culture Twenty-Three States + the District of Colombia Have Legalized Marijuana in Some Form

Medicinal and Recreational States ColoradoWashingtonOregonAlaska Washington, D.C.

Medicinal Only States Arizona California Connecticut Delaware Hawaii Illinois Maine Maryland Massachusetts Michigan Minnesota Montana Nevada New Hampshire New Jersey New Mexico New York Rhode Island Vermont

 Medicinal Use Already Approved, Now Seeking Recreational Usage  Nevada  California  Massachusetts  Michigan  Arizona  Vermont  Maine  Rhode Island States Considering Changes

More States Thinking About Changes Recreational + MedicinalMedicinal Use Only

One State’s Final Answer

Economic Effects Eliminate Prohibition Enforcement Costs Reduce Incarceration Costs Increase Tax Revenues Creation of New Jobs Estimated Eventual $100,000,000,000 Industry

Aspects Affecting Economies  Has Marijuana Usage Increased?  Some Studies Found No Increase in Teenage Use  Other Studies Say Yes  In October of 2015 A Study said  Usage Has Doubled From  More Retirees and Homeless People Are Moving To Legalized States

The State of Legal Marijuana Markets Sales reached $5.4 Billion in 2015 Demand Projected to Grow to $6.7 Billion in 2016 Estimated to Reach $21.8 Billion in 2020 Majority of Rise in Sales Attributed to Recreational Sales Recreational Sales at 8% in 2014 Anticipated to Be 53% in 2020

Colorado Four Year Positive Economic Effect $700,000,000 in Sales in 2014 $386,000,000 Medical $313,000,000 Recreational $63,000,000 Tax Revenue $13,000,000 in Licenses and Fees

Colorado $996,184,788 in Sales in 2015 $408,350,569 Medical $587,834,219 Recreational $135,000,000 Taxes + Fees $35,000,000 to be Used For School Construction Projects

Paying for Legalized Marijuana

Washington State Decrease in Related Arrests and Convictions $83,000,000 in Tax Revenues Being Used to Fund Substance Abuse Prevention and Other Treatment Programs State Voters Continue to Support

Alaska and Oregon Still Being Calculated

Washington, D.C. Legal to Grow, Smoke, and Give it Away Set Up More as a Gift Economy Called the “Grow and Give,” Approach

Marijuana Related Law Suits

Legal Clashes State and Local Legislation & Regulation Federal Law (Schedule 1 Controlled Substance)

Neighboring States’ Opinion

Oklahoma and Nebraska Seeking Verification That Federal Laws Reign Supreme Over State Laws

Other Suits Against Colorado Suits Organized and Funded by Anti- Drug Organizations Allegations Racketeering Pot Laws Violate the Constitution Inhibit Businesses Increase Out of State Arrests Overburdening Police and Courts

Lawyer’s Ethical Dilemmas Attorney Rules Scope, Purpose, and Construction

Transportation Issues  Driving Between States  Transporting Illegal Cargo  Calculating Level of Marijuana Impairment  Alcohol v. Marijuana Testing  Maximum THC For Driving – 300 G/KG  Not As Bad As Alcohol Impairment

Law Enforcement  Has Legalization Curbed the Black Market?  Marijuana Penalty Reductions  Suits against Police for Marijuana Confiscation  More Home Break-ins to Investigate  Testing Drivers For Impairment  Deciding When to Pull Drivers Over

Education Effects Usage Can Affect Memory, Attention, and Learning Skills Usage Leads to More Frequent School Dropouts Lower Income Greater Welfare Dependence Unemployment More Criminal Behavior

Education Area  Colorado University Students Formed a Group  Designed to Improve Marijuana Growing  On-Campus Usage – Allowable?  January 2016 Report  No Evidence That Teens’ IQs Get Lower By Using Marijuana

Identifying and Managing the Risk in This New World

What’s Beginning Cannabis Law Firms Entrepreneurial Litigation Generational Thoughts Differing Opinions Will Denials Over Federal Illegality Hold Up? Federal Vs. State Battle Your Entity’s Reputation

Risk Factors  Workers’ Compensation  Auto Exposure Even If Driver Tests Positive  Employee Causes Injury to Customers  Most States Still Allow Drug Related Terminations  Plaintiff Attorneys Seeking Proof of Impairment

Things To Consider Business Licensing Property Zoning Tolerance of Rule Violations Legalize by Law or Constitutional Amendment?

Giving to Nonprofits  Working on Policies for Handling Donations  Sensitivity to Public Perception  Acceptance of Federal Funding is a Factor  Possibility that Donations from the Industry Could be Seized  Keep Marijuana Donated Funds Separate

Workplace Usage Drug Free Workplaces Can Marijuana Be Used Medicinally?

Workplace Usage

What Else Is Happening? NORML Trying To Revive a Ballot to Allow Marijuana Use at Bars and Other Businesses

Questions?Or Free Samples?

THANK YOU! Richard A. Spiers, CPCU, ARM, ARe Thomas J. Lyons, Esq. The Changing World of Marijuana: Did You Inhale? March 7, 2016