On Friday, May 10, Georgia became the 42nd state to legalize hemp farming. Georgia Governor Brian Kemp signed the Georgia Hemp Farming Act into law, legalizing the licensing of industrial hemp growers in the state. The law sets forth the requirements for grower licenses and processor permits, which will be administered by the state Department of Agriculture.
Grower licenses will be issued for one calendar year, at a cost of $50 per acre up to a $5,000 maximum license fee. Processing permits will be issued on an annual basis at an annual fee of $25,000 for the first year, and $10,000 for each year thereafter.
As an insurance broker I work with help many cannabis and hemp operations manage risk through insurance. Whether your a property owner, grower, processor, lab, wholesaler or dispensary I’m available to discuss my experience or any questions you may have.
The information in this blog is accurate to the best of my knowledge. This blog is not a substitute for consultation with a licensed insurance broker to address the particular facts and circumstances of your individual risks.