Section 10-45-97 - Professional employer organization defined

10-45-97. Professional employer organization defined.For the purposes of §10-45-96, the term, professional employer organization, means a firm which:(1)Enters into a contractual agreement with a client company to create a co-employment relationship for the provision of payroll, benefits, and other human resources functions;(2)Covers at least seventy-five percent of the client company's full-time or full-time equivalent employees domiciled in South Dakota; and(3)Maintains separate books and records of account for each client company. Source: SL 1999, ch 57, §2.