(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.