State Treasurer John Perdue is asking Governor Jim Justice to consider possible banking options when it comes to handling funds for the new medical marijuana program.
Perdue sent a letter to Justice Thursday outlining two potential solutions: (1) Establishing a state bank or (2) Establishing a third-party loop system through a vendor.
Each option would require legislative action.
The state has to deposit money from growers and processors, but needs vendors to process the funds. Currently, West Virginia does not have vendors on contract that are willing to take the money.
Assistant Treasurer Josh Stowers said they have a responsibility to find a reasonable solution to handle the money.