Synthetic Cannabinoids

Cannabinoids or other compounds with psychoactive effects created through synthetic means. Synthetic cannabinoids are not always similar in structure or function to cannabinoids.

Suspicious Activity Report (SAR)

Filings that must be made by financial institutions with the United States Department of Treasury’s Financial Crimes Enforcement Network if the financial institution knows or suspects an account holder is engaged in or trying to cover up illegal activity.

Subsidiary

A company that is owned or controlled by another company, typically referred to as a holding or parent company.

Structure-Function Claims

Claims made in connection with dietary supplements concerning the effect of a nutrient or dietary ingredient on the structure or function of the human body.

Strains

Genetic variants of cannabis plants that have different tastes, aromas, visual qualities, cannabinoid concentrations, and/or effects.

Standard Operating Procedures (SOPs)

Procedures for operating a certain aspect of a business that include, among other things, recall procedures, security procedures, quality assurance procedures, and more. Cannabis businesses must often submit SOPs to state and local regulators with their license or permit applications.

Social Equity Programs

Cannabis licensing programs or employment requirements designed to foster access, employment, or ownership for persons from marginalized communities or victims of the War on Drugs.

Single Convention on Narcotic Drugs of 1961

An international treaty that prohibits the production and supply of certain drugs. The treaty required signatory nations to enact legislation to carry out its requirements. The Controlled Substances Act was enacted in the U.S. pursuant to the Single Convention.

Sessions Memo

Memorandum issued on January 4, 2018 by former United States Attorney General Jefferson B. Sessions, III that rescinded previous nationwide guidance specific to marijuana enforcement. The Sessions Memo gave United States Attorneys discretion to prosecute federal cannabis law violations, even if consistent with state law.

S-corporation

A tax status elected by an eligible corporation or LLC that passes corporate income, losses and credits through to shareholders for federal tax purposes.