Subject to the provisions of §§ 3-12C-304 and 3-12C-305, any school board shall have the power to enter into a retirement pension agreement with its employees for their benefit and to pay any part or all of the necessary premiums therefor.

Source: SL 1947, ch 81 , § 1; SL 1955, ch 41 , ch 16, § 15; SDC Supp 1960, § 15.3815; SL 2019, ch 22 , § 1.