There are established five schedules of controlled substances to be known as Schedules I, II, III, IV and V.
A. The board shall place a substance in Schedule I if it finds that the substance:
(1) has a high potential for abuse; and
(2) has no accepted medical use in treatment in the United States or lacks accepted safety for use in treatment under medical supervision.
B. The board shall place a substance in Schedule II if it finds that:
(1) the substance has a high potential for abuse;
(2) the substance has a currently accepted medical use in treatment in the United States or currently accepted medical use with severe restrictions; and
(3) the abuse of the substance may lead to severe psychic or physical dependence.
C. The board shall place a substance in Schedule III if it finds that:
(1) the substance has a potential for abuse less than the substances listed in Schedules I and II;
(2) the substance has a currently accepted medical use in treatment in the United States; and
(3) abuse of the substance may lead to moderate or low physical dependence or high psychological dependence.
D. The board shall place a substance in Schedule IV if it finds that:
(1) the substance has a low potential for abuse relative to the substances in Schedule III;
(2) the substance has a currently accepted medical use in treatment in the United States; and
(3) abuse of the substance may lead to limited physical dependence or psychological dependence relative to the substance in Schedule III.
E. The board shall place a substance in Schedule V if it finds that:
(1) the substance has a currently accepted medical use in treatment in the United States; and
(2) abuse of the substance may lead to limited physical dependence or psychological dependence relative to the substances in Schedule IV.