                                 CODE OF VIRGINIA

VIRGINIA CANNABIS CONTROL AUTHORITY CREATED; PUBLIC PURPOSE (§ 4.1-601)

A. The General Assembly has determined that there exists in the Commonwealth a
need to control the possession, sale, transportation, distribution, and delivery
of retail marijuana and retail marijuana products in the Commonwealth. Further,
the General Assembly determines that the creation of an authority for this
purpose is in the public interest, serves a public purpose, and will promote the
health, safety, welfare, convenience, and prosperity of the people of the
Commonwealth. To achieve this objective, there is hereby created an independent
political subdivision of the Commonwealth, exclusive of the legislative,
executive, or judicial branches of state government, to be known as the Virginia
Cannabis Control Authority. The Authority&#8217;s exercise of powers and duties
conferred by this subtitle shall be deemed the performance of an essential
governmental function and a matter of public necessity for which public moneys
may be spent.

B. The Board of Directors of the Authority is vested with control of the
possession, sale, transportation, distribution, and delivery of retail marijuana
and retail marijuana products in the Commonwealth, with plenary power to
prescribe and enforce regulations and conditions under which retail marijuana
and retail marijuana products are possessed, sold, transported, distributed, and
delivered, so as to prevent any corrupt, incompetent, dishonest, or unprincipled
practices and to promote the health, safety, welfare, convenience, and
prosperity of the people of the Commonwealth. The exercise of the powers granted
by this subtitle shall be in all respects for the benefit of the citizens of the
Commonwealth and for the promotion of their safety, health, welfare, and
convenience. No part of the assets or net earnings of the Authority shall inure
to the benefit of, or be distributable to, any private individual, except that
reasonable compensation may be paid for services rendered to or for the
Authority affecting one or more of its purposes, and benefits may be conferred
that are in conformity with said purposes, and no private individual shall be
entitled to share in the distribution of any of the corporate assets on
dissolution of the Authority.

HISTORY: 2021, Sp. Sess. I, cc. 550, 551.