SDCL § 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.