South Dakota § 47-11D-22 Pension, profit sharing, insurance, and welfare plans for employees--Restrictions.

South Dakota Statutes

§ 47-11D-22 — Pension, profit sharing, insurance, and welfare plans for employees--Restrictions.

South Dakota § 47-11D-22

Title 47CORPORATIONS

Ch. 47-10PHYSICIAN'S ASSISTANTS CORPORATIONS

This text of South Dakota § 47-11D-22 (Pension, profit sharing, insurance, and welfare plans for employees--Restrictions.) 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 § 47-11D-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. However, any such plan may 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.

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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. However, any such plan may 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.