Institutional review board -- Approved study of cannabis, a cannabinoid product, or an expanded cannabinoid product

(1) As used in this section: (a) "Approved study" means a medical research study: (i) the purpose of which is to investigate the medical benefits and risks of cannabinoid products; and (ii) that is approved by an IRB. (b) "Cannabinoid product" means the same as that term is defined in Section 58-37-403. (c) "Cannabis" means the same as that term is defined in Section 58-37-403. (d) "Expanded cannabinoid product" means the same as that term is defined in Section 58-37-403. (e) "Institutional review board" or "IRB" means an institutional review board that is registered for human subject research by the United States Department of Health and Human Services. (2) A person conducting an approved study may, for the purposes of the study: (a) process a cannabinoid product or an expanded cannabinoid product; (b) possess a cannabinoid product or an expanded cannabinoid product; and (c) administer a cannabinoid product, or an expanded cannabinoid product to an individual in accordance with the approved study. (3) A person conducting an approved study may: (a) import cannabis, a cannabinoid product, or an expanded cannabinoid product from another state if: (i) the importation complies with federal law; and (ii) the person uses the cannabis, cannabinoid product, or expanded cannabinoid product in accordance with the approved study; or (b) obtain cannabis, a cannabinoid product, or an expanded cannabinoid product from the National Institute on Drug Abuse. (4) A person conducting an approved study may distribute cannabis, a cannabinoid product, or an expanded cannabinoid product outside the state if: (a) the distribution complies with federal law; and (b) the distribution is for the purposes of, and in accordance with, the approved study.