There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 47 CORPORATIONS
Chapter 13B. Professional Corporations For The Practice Of Public Accounting
§47-13B-15 Pension and insurance plans for employees.
SD Codified L § 47-13B-15 (through 2011) What's This?
47-13B-15. Pension and insurance plans for employees. A professional service corporation may adopt a pension, profit-sharing (whether cash or deferred), health and accident, insurance, or welfare plan for all or part of its employees including lay employees, providing that such plan does not require or result in the sharing of specific or identifiable fees with any lay employees and any payments made to lay employees or into any such plan in behalf of lay employees are based upon their compensation or length of service, or both, rather than the amount of fees or income received.
Source: SL 1971, ch 260, § 3.
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