This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MediSwipe Inc. Announces New Michigan State Legislation HB 4271 Introduced February 19, 2013 Outlining Medicinal Marijuana Go Forward Plan For State

LOS ANGELES, Feb. 20, 2013 (GLOBE NEWSWIRE) -- MediSwipe Inc. ( www.MediSwipe.com ) ( MWIP), a patient security solutions and financial products company for the medicinal marijuana and health care industry, today announced after the trading session on February 19th, the state of Michigan introduced new proposed legislation titled as House Bill 4271 outlining new requirements for Michigan's medical marijuana statewide program.

A Republican state lawmaker introduced the bill yesterday that would allow individual cities to decide how medical marijuana caregivers and provisional centers could continue to operate within their boundaries. Under the bill, municipalities could also set up regulations covering the location of centers and possibly institute other operational rules.

The proposal by Rep. Mike Callton comes just two weeks after the state Supreme Court essentially ruled that patient to patient dispensaries are illegal under Michigan's medical marijuana laws, a devastating decision that could force all of the estimated 75-100 dispensaries currently operating to close. What's particularly encouraging about the HB 4271 is that it has an unusually high level of bipartisan support: Eight Democrats and eight Republicans are cosponsoring the measure. This renewed support and clearly defined guidelines within the proposal now provides a meaningful chance at passage over a similar one that lost ground in committee last year.

HB 4271 suggests a secure patient identification system that MediSwipe has already developed via a HIPAA and PCI Compliant system as outlined in Section 10:

"A provisioning center shall ensure compliance with the dispensing limit under subsection (9) by maintaining internal, confidential dispensing records that specify the amount of medical marihuana dispensed to each registered qualifying patient and registered primary caregiver and whether it was dispensed directly to the registered qualifying patient or the registered primary caregiver."

Further, Section 10 also requires all entries to include date and time of when medical marijuana is dispensed to the patient or caregiver which falls in line with the data collection that will be incurred by the EMR system developed by MediSwipe.  

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs