61-5A-13. Amount of surety bond.
The amount of the bond required by §61-5A-12 is equal to the maximum effective tax rate times the organization's taxable wages paid for employment as defined in §§61-1-15 and 61-1-36 for the four calendar quarters immediately preceding the effective date of the election. If the nonprofit organization did not pay wages in each of such four calendar quarters, the amount of the bond shall be as determined by the department.
Source: SL 1971, ch 276, §67; SL 1973, ch 307, §1; SL 2013, ch 258, §17.
Structure South Dakota Codified Laws
Title 61 - Reemployment Assistance
Chapter 05A - Reimbursement Of Benefits In Lieu Of Contributions
Section 61-5A-1 - Reimbursement by state of benefits paid--Share of extended benefits.
Section 61-5A-2 - Periodic billing of benefit costs to state--Amount.
Section 61-5A-5.2 - Election of political subdivisions becoming subject to title.
Section 61-5A-10 - Extension of time for election or termination--Retroactive election.
Section 61-5A-12 - Surety bond required of organization paying in lieu of contributions.
Section 61-5A-13 - Amount of surety bond.
Section 61-5A-14 - Duration of surety bond--Renewal.
Section 61-5A-15 - Adjustments in surety bond.
Section 61-5A-16 - Liability of surety on bond on failure of organization to pay.
Section 61-5A-18 - Amount of payments required in lieu of contributions.
Section 61-5A-22 - Apportionment among group members of payments in lieu of contributions.
Section 61-5A-23 - Rules governing group accounts.
Section 61-5A-25 - Method of making payments in lieu of contributions.
Section 61-5A-30 - Redetermination of amount of payments billed to organization.
Section 61-5A-31 - Time of payment of bill for payments in lieu of contributions.
Section 61-5A-33 - Interest and penalties on past due payments in lieu of contributions.
Section 61-5A-34 - Payments in lieu of contributions not to be deducted from wages.