2014 New York Laws
EPT - Estates, Powers & Trusts
Article 7 - TRUSTS
Part 5 - (7-5.1 - 7-5.8) BANK ACCOUNTS IN TRUST FORM
7-5.3 - Payment to beneficiary

7-5.3 Payment to beneficiary
(a)  If the beneficiary survives the depositor under the circumstances
  provided in paragraph four of section 7-5.2, the funds shall be paid  to
  the  beneficiary  upon  his  order,  if,  at  the time of his demand for
  payment of all or part of the funds, he is eighteen  or  more  years  of
  age.
(b)  If the beneficiary survives the depositor under the circumstances
  provided in paragraph four of section 7-5.2, and if the  beneficiary  is
  under  eighteen  years of age at the time demand for payment of any part
  or all of the funds is made, the funds may be paid to the order  of  the
  parent  or parents of the beneficiary to be held for the use and benefit
  of such infant beneficiary  or  to  the  order  of  the  duly  appointed
  guardian  of  the property of the beneficiary, if the funds are equal to
  or are less than ten thousand dollars; but if the funds  are  more  than
  ten  thousand  dollars,  the  funds may be paid only to the order of the
  duly appointed guardian of the property of the beneficiary.