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Can you summarize NYCL BNK 8?
Short Title; Definitions; Miscellaneous Provisions > Deposits by custodian designated by administrator of veterans' affairs, or by person certified by social security administration
Short Summary
This provision pertains to deposits made for the benefit of an individual by the custodian designated by the administrator of veterans’ affairs or by a person certified by the social security administration. The deposit, along with any interest or dividends, can be paid to the designated custodian or person and their successors. The receipt or acquittance of the custodian or person, or their successors, serves as a valid and sufficient release and discharge to the depositary for any payment made. This provision does not mention any exemptions or penalties.
Whom does it apply to?
Individuals for whom a custodian has been designated by the administrator of veterans' affairs or a person certified by the social security administration
What does it govern?
Deposits made for the benefit of an individual by the custodian designated by the administrator of veterans' affairs or by a person certified by the social security administration
What are exemptions?
No exemptions are mentioned
What are the Penalties?
No penalties are mentioned
Jurisdiction
New York