Text (RV+errata): 2/5. ; As long as ~this~ is untapped, all damage that would be dealt to you by unblocked creatures is dealt to ~this~ instead. [Oracle 2001/08/24]
If a creature is blocked but Trample damage is still done to a player, this damage cannot be redirected to the Bodyguard because the Bodyguard only takes damage from unblocked creatures. [bethmo 1994/06/01]
Damage goes to the Bodyguard as long as he is untapped. This works even if he is blocking. [Peterson 1994/11/01]
Cannot be used against spell or other non-creature attack damage. [D'Angelo 1994/06/01]
Redirected damage retains its color and any other abilities. [Snark 1994/02/01]
If you have multiple Veteran Bodyguards, you can decide which one receives the redirected damage each time damage would be dealt to you. [D'Angelo 2001/08/31]
Extended tournaments (see Rule 913) have banned this card since 1999/10/01.
Note - This card was creature type "Bodyguard" until Oracle 2007/10/01, when it became "Human".