(a) A Trust Company which is acting as a fiduciary or agent shall, in its discretion or at the direction of another person who is authorized to direct the investment of money held by the Trust Company as a fiduciary or agent, make investments in accordance with the Uniform Prudent Investors Act, as adopted in 1994 by the National Conference of Commissioners on Uniform State Laws, if:

(1) the investment trust or investment company is registered with the Commissioner; and

(2) the portfolio of the investment trust or investment company consists substantially of investments which are not prohibited by the instrument creating the fiduciary or agency relationship.

(b) A Trust Company or an affiliate of the Trust Company may provide services to the investment trust or investment company, including, without limitation, acting as an investment adviser, custodian, transfer agent, registrar, sponsor, distributor or manager, and may receive reasonable compensation for the services. The manner in which the compensation is calculated must be disclosed to the person who is currently receiving the benefits of the fiduciary or agency relationship with the Trust Company. The disclosure shall be made in a prospectus, a report to the Trustor or manner prescribed by the Commissioner.

(c) A Trust Company may deposit money held by the Trust Company as a fiduciary or agent with an affiliate before investing or making other disposition of the money.

2017 NOTE: Subsection/subitem designations altered/added pursuant to the authority of 1 Guam Code Ann. § 1606.