Va. Code Ann. § 4.1-807

A. As used in this section, "interest" means a direct or indirect equity ownership interest, a partial equity ownership interest, or any other financial or economic interest representing at least 10 percent or more of the ownership, voting power, or economic value of an entity, including being an investor, partner, member, officer, or director or serving in any other management position.

B. A person may possess or hold interest in one or any combination of the following licenses pursuant to Board regulations: tier I marijuana cultivation facility license, tier II marijuana cultivation facility license, tier III marijuana cultivation facility license, tier IV marijuana cultivation facility license, tier V marijuana cultivation facility license, marijuana processing facility license, marijuana transporter license, marijuana delivery operator license, or retail marijuana store license. Board regulations shall be drawn to ensure that all licensees have an equal and meaningful opportunity to participate in the market. Moreover, except as provided in subsection C, (i) no person shall be granted or hold interest in more than five total licenses, not including marijuana transporter licenses, issued pursuant to this subtitle or more than one tier V marijuana cultivation facility license; (ii) no person that has been granted or holds interest in a marijuana cultivation facility license, marijuana processing facility license, marijuana transporter license, marijuana delivery operator license, retail marijuana store license, or microbusiness license shall be issued or hold interest in a marijuana testing facility license; (iii) no person that has been granted or holds interest in a microbusiness license shall be issued or hold interest in any other marijuana establishment; and (iv) no person that has been granted or holds interest in a pharmaceutical processor permit pursuant to Chapter 16 (§ 4.1-1600 et seq.) shall be issued or hold interest in any other marijuana establishment license, except for the cannabis dispensing facility permits allowed pursuant to § 4.1-1602 .

C. Nothing in this section shall be construed to prohibit any person or entity that, as of July 1, 2026, owns and controls a pharmaceutical processor permit pursuant to Chapter 16 (§ 4.1-1600 et seq.) or a conditional permit in more than one health service area, provided such person or entity continuously holds such pharmaceutical processor permits or conditional permits after July 1, 2026.

2026, Sp. Sess. I, c. 1 .