South Dakota Codified Laws 62-5-2. Obtaining workers’ compensation insurance
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An employer may secure the payment of compensation to any employee by insuring and keeping insured the payment of the compensation with any stock corporation writing workers’ compensation insurance or any mutual employer’s liability association authorized to transact the business of workers’ compensation insurance in this state or in an association authorized to exchange reciprocal or interinsurance contracts by individuals, partnerships, or corporations.
Terms Used In South Dakota Codified Laws 62-5-2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- employer: includes the state and any municipal corporation within the state or any political subdivision of this state, and any individual, firm, association, limited liability company, or corporation, or the receiver or trustee of the same, or the legal representative of a deceased employer, using the service of another for pay. See South Dakota Codified Laws 62-1-2
Source: SL 1931, ch 271, § 1; SDC 1939, § 64.0106 (1); SL 2008, ch 278, § 35.