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There Will Be Legal Recreational Dispensaries in Los Angeles!

The country’s unofficial capital city for marijuana, Los Angeles, is finally going to be able to sell marijuana legally. At least, from the state of California’s perspective, recreational dispensaries in Los Angeles will be legally able to sell cannanbis. Enthusiasts will be able to purchase marijuana sometime in the early part of 2018, but not likely by January 1st.

The city council voted yesterday to permit the sale of legal recreational marijuana. Rules have been laid out about how businesses can acquire licenses and where exactly cannabis can be sold.

After months of debate and political snags, the council approved rules to usher in commercial sales and cultivation set to begin in less than a month under an initiative approved by state voters.

Under the Los Angeles regulations, residential neighborhoods would be largely off-limits to pot businesses, and buffer zones would be set up around schools, libraries and parks.

However, with the new year just weeks away — and the holidays coming — industry experts say it’s not clear how many businesses, if any, will be ready to open their doors on Jan. 1 to hordes of anxious customers.

The dense set of regulations passed Wednesday dictate where pot can be grown and sold in the new marketplace, along with how businesses will be licensed.

Businesses that want to participate in the marketplace need local permits before they can apply for state licenses required to operate in 2018.

Los Angeles, home to 4 million people, has long been an unruly frontier in the pot industry, where hundreds of illegal dispensaries and cultivators proliferated.

The legal marketplace is seen as a way to impose order, hopefully squeezing out illegal operators while raising a cascade of new taxes for City Hall.

Los Angeles has been a long time favorite destination for recreational marijuana enthusiasts. Some of the highest quality marijuana is grown in L.A. and there is no place with a party scene surrounding marijuana like LA. Do you see yourself paying L.A. a visit next year?

read more at nbcnews.com

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Richard Lowe

Richard Lowe is a 14-year veteran of the financial sector with licenses as a commodity broker (Series 3) and investment advisor representative (IAR Series 65). Along with a focus on raising capital for the firms he was employed with, he also wrote and edited much of the content published by them. He holds a BA in Journalism from the University of Massachusetts. He has been a longtime advocate for marijuana legalization due to the social injustices associated with marijuana prohibition and the strong potential for the medicinal benefits of cannabis.

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