NM property firm makes policy on medical marijuana - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

NM property firm makes policy on medical marijuana

ALBUQUERQUE, N.M. (AP) - A major property management firm notified its New Mexico tenants in August that they'd have to sign an agreement not to use or grow medical marijuana at home.

But Monarch Properties Inc. has reversed the rules for apartments that don't fall under federal regulations.

Monarch has told tenants that although New Mexico is 1 of 14 states where medical marijuana is legal, marijuana remains illegal under the federal Controlled Substances Act.

Last week, Monarch notified residents the new rules apply only to properties receiving federal funding.

The company manages 86 properties in more than two dozen New Mexico communities.

Most of the properties come under Housing and Urban Development and Department of Agriculture regulations because they receive federal subsidies or financing or have tenants receiving federal rental support.

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