N.Y. Banking Law § 8: Deposits by custodian designated by administrator of veterans' affairs, or by person certified by social security administration

§ 8. Deposits by custodian designated by administrator of veterans'

affairs, or by person certified by social security administration. When

any deposit shall be made for the benefit of an individual by the person

who has been designated the custodian of such individual by the

administrator of veterans' affairs pursuant to the provisions of title

thirty-eight, United States code, "Veterans' Benefits", as amended, or

when a deposit shall be made for the benefit of an individual by a

person who has been certified by the social security administration as

the person to whom payment for the benefit of such individual should be

made pursuant to the provisions of an act of congress entitled the

"Social Security Act", the deposit, together with any interest or

dividends credited thereon, may be paid to such custodian or his

successor designated by the administrator of veterans' affairs or to

such person or his successor certified by the social security

administration, and the receipt or acquittance of such custodian or

person or such successor shall be a valid and sufficient release and

discharge to the depositary for any payment so made.