47-11A-16. Pension and insurance plans for employees--Restrictions on terms.
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 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 1970, ch 258, ยง3.
Structure South Dakota Codified Laws
Chapter 11A - Chiropractic Corporations
Section 47-11A-1 - Formation of corporation and limited liability company authorized.
Section 47-11A-1.1 - Definition of terms.
Section 47-11A-2 - Purpose of corporation.
Section 47-11A-3 - Powers and privileges restricted to corporate purpose.
Section 47-11A-4 - Words or abbreviations required in corporate name--Ethical standards.
Section 47-11A-5 - Shareholding restricted to licensed chiropractors--Active practice required.
Section 47-11A-5.1 - Revocable trust as shareholder--Conditions.
Section 47-11A-6 - Disposition of shares when shareholder no longer eligible.
Section 47-11A-7 - Qualifications of president, directors, and officers.
Section 47-11A-12.2 - Amendment of articles of incorporation to be consistent with law.
Section 47-11A-14 - Purchase at book value of shares of deceased or ineligible shareholder.
Section 47-11A-15 - Corporate practice of chiropractic restricted--Application of canons of ethics.
Section 47-11A-16 - Pension and insurance plans for employees--Restrictions on terms.
Section 47-11A-17 - Standards of professional conduct binding on corporation.
Section 47-11A-18 - Violation as ground for revocation of chiropractic license.
Section 47-11A-20 - Relationship with patient unchanged.
Section 47-11A-21 - Management of deceased or substantially disabled chiropractor's practice.