Are there requirements for insurance coverage?
Yes. Cannabis establishments must obtain and maintain commercially reasonable levels of insurance to protect the business owner and the general public.
Please refer to the Cannabis Insurance FAQ document to help guide you through the process.
Do I need a bank account for my cannabis business?
All applicants must make a good faith effort to get a bank account. In many cases, banks that will open accounts for cannabis businesses are asking to see a pre-qualification certificate from applicants prior to opening an account. The following banks have deposit accounts on file for cannabis businesses:
Vermont-Based Banks:
National Banks
- CFG Bank
- First Federal Bank
- GFA Federal Credit Union
- Herring Bank
- North Bay Credit Union
- Regent Bank
- Stearns Bank N.A.
- Valley Bank
- Dart Bank
If an applicant can document their unsuccessful good faith efforts to open a bank account, they may still apply for licensure by submitting a cash management plan along with their application.