South Dakota § 47-11B-22 Pension and insurance plans for employees--Restrictions on terms.

South Dakota Statutes

§ 47-11B-22 — Pension and insurance plans for employees--Restrictions on terms.

South Dakota § 47-11B-22

Title 47CORPORATIONS

Ch. 47-10OPTOMETRIC CORPORATIONS

This text of South Dakota § 47-11B-22 (Pension and insurance plans for employees--Restrictions on terms.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 47-11B-22 (2026).

Text

A corporation formed pursuant to the provisions of this chapter, 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 any 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 by the corporation or its shareholders.

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A corporation formed pursuant to the provisions of this chapter, 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 any 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 by the corporation or its shareholders.