(KTEN) — Senate Bill 913, signed into law by Governor Kevin Stitt last week, will require all applicants for a medical marijuana business license to submit a bond.

The bond would cover the area of land within the license application with a minimum payment of $50,000.

Commercial growers will be exempt from the requirement if they've owned the land for at least five years prior to an application submission.

The purpose of the bond is to help restore property if a medical marijuana grow shuts down or becomes abandoned.