N.Y. Banking Law § 8

§ 8. Deposits by custodian designated by administrator of veterans'\naffairs, or by person certified by social security administration. When\nany deposit shall be made for the benefit of an individual by the person\nwho has been designated the custodian of such individual by the\nadministrator of veterans' affairs pursuant to the provisions of title\nthirty-eight, United States code, "Veterans' Benefits", as amended, or\nwhen a deposit shall be made for the benefit of an individual by a\nperson who has been certified by the social security administration as\nthe person to whom payment for the benefit of such individual should be\nmade pursuant to the provisions of an act of congress entitled the\n"Social Security Act", the deposit, together with any interest or\ndividends credited thereon, may be paid to such custodian or his\nsuccessor designated by the administrator of veterans' affairs or to\nsuch person or his successor certified by the social security\nadministration, and the receipt or acquittance of such custodian or\nperson or such successor shall be a valid and sufficient release and\ndischarge to the depositary for any payment so made.\n