{"data":{"id":"us-pa/12-pa.c.s.-5506","jurisdiction":"us-pa","citation":"12 Pa.C.S. § 5506","heading":"Required disclosures.","body":"(a) Notification by legitimate cannabis-related business.--If a legitimate cannabis-related business obtains financial or insurance services from a financial institution or insurer doing business in this Commonwealth, the business shall, within five business days, provide notice to the financial institution or insurer if a cannabis-related permit, registration or certification held by the business or its affiliates under Federal law, the laws of this Commonwealth or a law established by another state is suspended or revoked.\n(b) Penalty.--If a legitimate cannabis-related business fails to give the notice required under subsection (a) to a financial institution or insurer, the business or business associate may be assessed a civil penalty up to $500 per day, not to exceed $25,000, until the notice is provided. The Department of Banking and Securities shall have authorization to assess civil penalties for failure to give notice under this section to a financial institution, and the Insurance Department shall have authorization to assess civil penalties for failure to give the notice under this section to an insurer.","path":["Title 12 - COMMERCE AND TRADE","PART IV COMMERCIAL PROTECTION","CHAPTER 55 LEGITIMATE CANNABIS-RELATED BUSINESS"],"source_url":"https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM\u0026ttl=12\u0026div=0\u0026chpt=55\u0026sctn=6\u0026subsctn=0","current_through":"2026-08-31 (Statute Update stamp, 12 Pa.C.S.)","vintage":"","retrieved_at":"2026-09-02T16:30:58Z","sha256":"58a23a5c7b3807f1ca91a52e74f96fe29ad82610ebe7421315d0abc6531dd105","source_id":"us-pa","stale":false,"prev":"us-pa/12-pa.c.s.-5505","next":"us-pa/12-pa.c.s.-5507"},"notice":"GroundRules: Original legal text. Not legal advice."}