§ 1310. Payment of certain debts without administration\n 1. As used in this section\n (a) "Debt" means\n (i) money or securities payable on account of a deposit in a bank,\nnational bank, trust company, branch of a foreign banking corporation,\nsavings bank, industrial bank, state or federal savings and loan\nassociation or state or federal credit union or with a private banker,\nor funds or securities invested with, held by or deposited with a\nbroker-dealer or with, by or in securities of a management type\ninvestment company or trust payable or returnable to, or to the estate\nof, or to a beneficiary designated by, the depositor or\n (ii) money payable by a state or federal savings and loan association\nor state or federal credit union to, or to the estate of, or to a\nbeneficiary designated by, a member on account of the withdrawal value\nof his shares or\n (iii) money payable by an insurance company or a savings bank\nauthorized to conduct the business of life insurance under an annuity or\npure endowment contract or a policy of life, group life, industrial life\nor accident and health insurance or a contract made by such an insurer,\nrelating to the payment of proceeds or avails thereof, to, or to the\nestate of, or to a beneficiary designated by, the owner or the person\npurchasing the annuity or the person insured or the person effecting the\ninsurance or the person effecting the supplemental contract or\n (iv) money payable by a public corporation, a state or the federal\ngovernment or an agency thereof, to, or to the estate of, or to a\nbeneficiary designated by, any natural person or\n (v) a pension or retirement or death benefit, profit share, earnings,\nwages, salary or bonus payable by an employer or by a pension,\nretirement or profit-sharing plan or system to, or to the estate of, or\nto a beneficiary designated by, an employee, or\n (vi) a balance of money due on an accepted claim or account payable,\non account of dividends payable by the superintendent of financial\nservices in liquidation of bank assets, to, or to the estate of, or to a\nbeneficiary designated by, a depositor or\n (vii) any personal property deposited with a county treasurer by a\ncoroner or county medical examiner pursuant to sections 785 and 786 of\nthe code of criminal procedure, or\n (viii) any personal property on deposit with a hospital, nursing home,\nresidential health care facility or out-patient lodge described in\nsection twenty-eight hundred one of the public health law at the time of\nthe death of a decedent that is payable or returnable to the estate of\nthe decedent;\n (b) "Debtor" means the person or persons, partnership, corporation,\ngovernment or government agency by whom a debt defined in this section\nis to be paid,\n (c) "Creditor" means the employee, depositor, member, or other person,\nto whom, or to whose estate, or to a beneficiary designated by whom, a\ndebt defined in this section is to be paid and shall include any\nbeneficiary validly designated by such a creditor,\n (d) A "designation of a beneficiary" means any writing, signed by the\ncreditor and delivered to the debtor purporting to designate the person\nto whom a debt shall be paid on death of the creditor or any transaction\nwhich operates pursuant to statute as such a designation.\n 2. Upon the death of a creditor, unless otherwise provided by a\ndesignation of a beneficiary which is then in effect, it shall be lawful\nfor the debtor forthwith to pay to the surviving spouse of the decedent\nnot more than thirty thousand dollars of the debt, upon an affidavit\nmade by the spouse showing that the payment and all other payments\nreceived by the spouse under this subdivision do not in the aggregate\nexceed thirty thousand dollars.\n 3. Not less than thirty days after the death of a creditor, unless\notherwise provided by a designation of a beneficiary which is then in\neffect, it shall be lawful for the debtor to pay not more than fifteen\nth
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