Section 1550.5 - Legislative findings regarding commercial activity relating to medicinal cannabis or adult-use cannabis(a) The Legislature finds and declares all of the following: (1) The Compassionate Use Act of 1996, an initiative measure enacted by the approval of Proposition 215 at the November 5, 1996, statewide general election, authorized the use of marijuana for medical purposes in this state.(2) The Legislature passed the Medical Cannabis Regulation and Safety Act, formerly Chapter 3.5 (commencing with Section 19300) of Division 8 of the Business and Professions Code, to regulate and license medical cannabis in the state.(3) The Control, Regulate and Tax Adult Use of Marijuana Act (AUMA), an initiative measure enacted by the approval of Proposition 64 at the November 8, 2016, statewide general election, authorized the consumption of nonmedical marijuana by persons over 21 years of age and provided for the licensure and regulation of certain commercial nonmedical marijuana activities in this state.(4) The Legislature passed the Medicinal and Adult-Use Cannabis Regulation and Safety Act (Division 10 (commencing with Section 26000) of the Business and Professions Code) to consolidate the licensure and regulation of certain commercial activities with respect to medicinal cannabis and nonmedical marijuana, now known as adult-use cannabis.(b) Notwithstanding any law, including, but not limited to, Sections 1550, 1667, and 1668 and federal law, commercial activity relating to medicinal cannabis or adult-use cannabis conducted in compliance with California law and any applicable local standards, requirements, and regulations shall be deemed to be all of the following:(1) A lawful object of a contract.(2) Not contrary to, an express provision of law, any policy of express law, or good morals.(3) Not against public policy.Amended by Stats 2018 ch 92 (SB 1289),s 35, eff. 1/1/2019.Added by Stats 2017 ch 530 (AB 1159),s 1, eff. 10/6/2017.