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2017 South Dakota Codified Laws
Title 47 - CORPORATIONS
Chapter 11E - Nursing Corporations
§ 47-11E-15 Pension profit sharing, health and accident insurance or welfare plan for employees--Restrictions.
Universal Citation: SD Codified L § 47-11E-15 (2017)
47-11E-15. Pension profit sharing, health and accident insurance or welfare plan for employees--Restrictions. 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, if such plan does not require or result in the sharing of specific or identifiable fees with 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 1996, ch 228, ยง 15.
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