(1) Each cannabis credit co-op shall comply with all applicable requirements of federal law, including:

(a) The federal "Bank Secrecy Act", 12 U.S.C. sec. 1951 et seq.;

(b) The requirement to maintain a due diligence program pursuant to 31 CFR 1020.610;

(c) The requirement to establish a customer identification policy pursuant to 31 CFR 1020.220; and

(d) The requirement to file suspicious activity reports pursuant to 31 CFR sec. 1020.320.

(2) Each co-op shall:

(a) Conduct due diligence with regard to the activities of its members so as to prevent:

(I) The distribution of marijuana to minors;

(II) Revenue from the sale of marijuana from going to criminal enterprises, gangs, and cartels;

(III) The diversion of marijuana from states where it is legal under state law in some form to other states;

(IV) State-authorized marijuana activity from being used as a cover or pretext for the trafficking of other illegal drugs or other illegal activity;

(V) Violence and the use of firearms in the cultivation and distribution of marijuana;

(VI) Drugged driving and the exacerbation of other adverse public health consequences associated with marijuana use;

(VII) The growing of marijuana on public lands and the attendant public safety and environmental dangers posed by marijuana production on public lands; and

(VIII) Marijuana possession or use on federal property; and

(b) File an annual report with the commissioner regarding its compliance with the laws and requirements specified in this section.

(3) The commissioner shall revoke the charter of a co-op that violates any of the laws or due diligence requirements specified in this section.