2006 South Dakota Code - 62-4-40 — Recovery by employer from third party--Excess held for employee.

     62-4-40.   Recovery by employer from third party--Excess held for employee. If compensation is awarded under this title, the employer having paid the compensation, or having become liable therefor may collect in his own name or that of the injured employee, or his personal representative, if deceased, from any other person against whom legal liability for damage exists, the amount of such liability and shall hold for the benefit of the injured employee or his personal representative, if deceased, the amount of damages collected in excess of the amount of compensation paid such employee or his representative, less the proportionate necessary and reasonable expense of collecting the same, which expenses may include an attorney's fee not in excess of thirty-five percent of damages so collected, and shall be subject finally to the approval of the department.

Source: SL 1917, ch 376, § 11; RC 1919, § 9446; SL 1921, ch 416; SDC 1939, § 64.0301; SL 1964, ch 224.