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NY Attys May Ethically Advise Pot Businesses, Accept Stakes
Law360 (July 9, 2021, 8:23 PM EDT) -- New York attorneys may counsel clients to help them stay in line with the state's new recreational marijuana use law, and can accept an equity ownership share in a cannabis business as payment for their legal services, the state's bar association said Thursday.
Now that Gov. Andrew M. Cuomo has signed a bill legalizing recreational cannabis for those 21 and older, New York lawyers want to know if they can advise clients in the pot business, have ownership interests in cannabis companies or partake in the substance themselves. The New York State Bar Association's Committee on Professional Ethics has given a...