Treasurer’s Office announces request for bid related to medical cannabis program

CHARLESTON, W.Va. — The West Virginia State Treasurer’s Office on Thursday released a request for proposal related to the search for a financial institution responsible with handling money related to the state’s medical cannabis law.

According to the office, such request is usually used when price is not the sole determining factor in selecting a vendor.

Financial institutions must provide the office with deposit, disbursement and receipt processes related to the sale and other functions of the medical marijuana law. Submissions are due by June 5.

A committee will be responsible for evaluating and scoring all submissions. A timeframe is dependent on the number of submissions, the information detailed and the availability of committee members.

State lawmakers had hoped to have the medical cannabis program operational by July 1.

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