19 Guam Code Ann. § 12105
Terms Used In 19 Guam Code Ann. § 12105
- Donor: The person who makes a gift.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Statute: A law passed by a legislature.
(b) A custodian may act without compensation for his services.
(c) Unless he is a donor, a custodian may receive from the custodial property reasonable compensation for his services determined by one of the following standards in the order stated:
(1) A direction by the donor when the gift is made; (2) A statute of Guam applicable to custodians;
(3) The statute of Guam applicable to guardians; (4) An order of the court.
(d) Except as otherwise provided in this Chapter, a custodian shall not be required to give a bond for the performance of his duties.
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19 Guam Code Ann. PERSONAL RELATIONS
CH. 12 UNIFORM GIFTS TO MINORS ACT
(e) A custodian not compensated for his services is not liable for losses to the custodial property unless they result from his bad faith, intentional wrongdoing or gross negligence or from his failure to maintain the standard of prudence in investing the custodial property provided in the Article.
SOURCE: CC ‘1156.2 added by P.L. 11-115.