Hemp Cultivation Hot Topic

The Mississippi Hemp Cultivation Act – Two Part Virtual Series

Part 1: August 25
10 am

Mississippi Hemp Cultivation Act – What Does This Mean for Mississippi’s Banks?

Part 2:  September 15 
10 am

September 15 – Bank Regulatory Aspects of the Mississippi Hemp Cultivation Act


Part 1:  Mississippi Hemp Cultivation Act – What Does This Mean for Mississippi’s Banks?

The Mississippi Hemp Cultivation Act (Senate Bill 2725) was signed into law on June 29, 2020. Through this act, the cultivation of hemp was legalized in the state of Mississippi. The USDA is currently accepting applications for hemp grower licenses from August 1 – October 31, 2020.  This session will consider how this program will affect banking from a state and federal viewpoint.

Part 2:  Bank Regulatory Aspects of the Mississippi Hemp Cultivation Act

This session will evaluate the regulatory issues and challenges for Mississippi’s banks in light of the recently passed Mississippi Hemp Cultivation Act (Senate Bill 2725).  State and federal regulators have been invited for comments at this session.

Who Should Attend?  agriculture lenders, lenders, compliance officers

Speakers:

Ed Elfmann is Senior Vice President of Agricultural and Rural Banking Policy for the American Bankers Association.  He has been with ABA since June 2012, and is ABA’s head of policy on agricultural and rural credit and lending issues. In addition to agricultural policy, Elfmann works on swaps and derivatives policy, financial services, and appropriations for ABA.  He also serves on the National Hemp Industrial Council. 

He currently serves on the Chicago Mercantile Exchange’s Agricultural Markets Advisory Committee and the Commodity Futures Trading Commission’s Agricultural Advisory Committee.  Elfmann earned his master’s degree from the George Washington University Graduate School of Political Management. He earned his B.A. from Hamline University in St. Paul, Minn.   (Mr. Elfmann will join both Part 1 and Part 2 of this series)

Tom Walker of Jones Walker Law Firm in Jackson, focuses on commercial and regulatory matters in the financial services industry and has a depth of experience representing financial institutions. Prior to joining the firm, he served as Executive Vice President and Director of a $200 million community bank in Forest, Mississippi. His experience as General Counsel, Chief Operating Officer, Chief Financial Officer, and Chief Investments Officer in the financial services sector enhances his ability to provide legal services to clients.

Mr. Walker previously served as Chairman of the Attorneys Committee of the Mississippi Bankers Association and currently serves as a member of that committee. He has also served as a member of the Long Range Planning Committee and Banking Committee for the Mississippi Society of CPAs. Mr. Walker has been an active Certified Public Accountant in Mississippi since 2001, and currently serves on the Board of Governors for the Mississippi Society of CPAs. He earned his juris doctor from the University of Mississippi School of Law.

 

The Mississippi Hemp Cultivation Act – Two Part Virtual Series

Part 1: August 25 – 10 am

Part 2:  September 15 – 10 am

To register, click here to email Lori Richardson at lrichardson@msbankers.com.