47-13A-9. Adoption of pension, profit-sharing, and insurance plans authorized.
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 1968, ch 10, ยง3.
Structure South Dakota Codified Laws
Chapter 13A - Professional Corporations For The Practice Of Law
Section 47-13A-1.1 - Definition of terms.
Section 47-13A-2 - Contents of articles of incorporation.
Section 47-13A-2.1 - Revocable trust as shareholder--Conditions.
Section 47-13A-2.3 - Amendment of articles of incorporation to be consistent with law.
Section 47-13A-3 - Certified copy of articles and amendments filed with Supreme Court clerk.
Section 47-13A-4 - List of shareholders and employees filed with Supreme Court clerk.
Section 47-13A-6 - Violation as grounds for termination or suspension of right to practice law.
Section 47-13A-8 - Attorney-client privilege unaffected.
Section 47-13A-9 - Adoption of pension, profit-sharing, and insurance plans authorized.