2010 Pennsylvania Code
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 72 - Prudent Investor Rule
7209 - Mutual funds.

     § 7209.  Mutual funds.
        Notwithstanding that a bank or trust company or an affiliate
     provides services to the investment company or investment trust,
     including that of an investment advisor, custodian, transfer
     agent, registrar, sponsor, distributor or manager, and receives
     reasonable compensation for those services and notwithstanding
     any other provision of law, a bank or trust company acting as a
     fiduciary, agent or otherwise may invest and reinvest in a
     mutual fund if the portfolio of the mutual fund consists
     substantially of investments not prohibited by the governing
     instrument. With respect to any funds invested, the basis upon
     which compensation is calculated, expressed as a percentage of
     asset value or otherwise, shall be disclosed by prospectus,
     account statement or otherwise to all persons to whom statements
     of the account are rendered.

        Cross References.  Section 7209 is referred to in section
     7772 of this title.