Title 34, Chapter 9, Section 180
(a) An officer, trustee, administrator, member of any committee, or
employee of a fund who is charged with the duty of investing or
handling the fund's assets shall not deposit or invest such assets
except in the name of the fund; shall not borrow the assets of such
fund; shall not be pecuniarily interested in any loan, pledge of
deposit, security, investment, sale, purchase, exchange,
reinsurance, or other similar transaction or property of such fund;
and shall not take or receive for his or her own use any fee,
brokerage, commission, gift, or other consideration for or on
account of any such transaction made by or on behalf of such fund.
(b) No fund shall guarantee any financial obligation of any of its
officers, trustees, or administrators.
(c) This Code section shall not prohibit a trustee, officer, member
of a committee, or employee of a fund from being covered by the fund
as an employee of a member and enjoying the usual rights so provided
for employees of members.
(d) The Commissioner shall, by regulation, define and permit
additional exceptions to the prohibition contained in subsection (a)
of this Code section solely to enable payment of reasonable
compensation to a trustee or administrator who is not otherwise an
officer or employee of the fund or to a corporation or firm in which
a trustee or administrator is interested, for necessary services
performed or sales or purchases made to or for the fund in the
ordinary course of the fund's business and in the usual private
professional or business capacity of the trustee or administrator or
of the corporation or firm.