47-11G-10. Pension profit sharing, health and accident insurance or welfare plan for employees--Restrictions.
A corporation formed pursuant to this chapter may adopt a pension profit-sharing, a health and accident, an insurance, or a welfare plan for all or some of its employees, including lay employees, if the plan does not require or result in the sharing of specific or identifiable fees with lay employees, and if any payments made to lay employees or into any such plan on behalf of lay employees are based on their compensation, their length of service, or both, rather than the amount of fees or income received.
Source: SL 2022, ch 167, §9.
Structure South Dakota Codified Laws
Chapter 11G - Physical Therapy, Occupational Therapy, And Speech-Language Pathology Corporations
Section 47-11G-1 - Definition of terms.
Section 47-11G-3 - Formation of corporation--Powers and privileges.
Section 47-11G-4 - Name of corporation or limited liability company.
Section 47-11G-5 - Shareholders--Requirements.
Section 47-11G-6 - Directors and officers.
Section 47-11G-7 - Personal liability--Exception.
Section 47-11G-8 - Articles of incorporation--Shareholder and employee information.
Section 47-11G-11 - Standards of professional conduct—Compliance—Discipline.