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, ยง15.
Structure South Dakota Codified Laws
Chapter 11E - Nursing Corporations
Section 47-11E-1.1 - Definition of terms.
Section 47-11E-2 - Formation of corporation authorized.
Section 47-11E-3 - Powers and privileges.
Section 47-11E-4 - Name of corporation or limited liability company.
Section 47-11E-5 - Shareholders must be licensed and engaged in practice of nursing.
Section 47-11E-5.1 - Revocable trust as shareholder--Conditions.
Section 47-11E-6 - Ineligible shareholder to dispose of shares.
Section 47-11E-7 - Qualifications of president, directors and officers.
Section 47-11E-12.2 - Amendment of articles of incorporation to be consistent with law.
Section 47-11E-13 - Filing of articles of incorporation.
Section 47-11E-14 - Corporations not to engage in practice of nursing outside of chapter.
Section 47-11E-16 - Standards of professional conduct--Compliance.
Section 47-11E-17 - Suspension of corporation or members from practice of nursing.
Section 47-11E-18 - Standards of professional conduct--Discipline.