2. Update Company Policies to be Compliant with Minnesota’s New Sick and Safe Time Requirements
Effective Jan. 1, 2024, Minnesota’s earned sick and safe time law requires employers to provide paid leave to employees who work in the state. Generally, all employers will need to give employees notice of the new law and update their employee handbook, and employers who do not offer unlimited PTO will need to ensure that their PTO arrangements meet the new minimum standards, and update their PTO/payroll tracking system.
Resources including basic information, employee notice, workplace posters, and video overviews can be found HERE.
Our full alert about Minnesota’s earned sick and safe time law can be found HERE.
3. If Applicable, Confirm Your Hemp-Derived Business is Registered with the Minnesota Department of Health
If you sell hemp-derived cannabinoid products to the public in Minnesota, you must register with the Minnesota Department of Health (if you have not already done so. At this point this is a one-time filing). The form to register your hemp-derived cannabinoid business can be found HERE.
If you are unsure whether your hemp-derived cannabinoid business is registered, you can check by either using the map or downloading the Excel file which can be found HERE.
4. Review Governing Documents
We strongly advise our clients to enter into an Operating Agreement for all multi-member LLCs and other forms of entity with more than one owner. An Operating Agreement provides how the owners will make decisions and what happens if one of the owners dies or wants to leave. It also clearly sets out the percentages in which the owners own the company, generally in the back on Exhibit A.
If you have an Operating Agreement, consider whether you need to amend it (e.g. to reflect new partners, a changed business model, etc.)
And if you don’t have an Operating Agreement yet, please contact us to get one started. Generally you will need it to open a bank account and for licensing, as well as peace of mind on having these important matters documented.
