§560:6-111  Financial institution
protection; payment of trust account.  Subject to the provisions of section
560:6-107, any trust account may be paid, on request and according to its
terms, to any trustee.  Unless the financial institution has received written
notice or has actual knowledge that the beneficiary has a vested interest not
dependent upon the beneficiary's surviving the trustee, payment may be made to
the personal representative or heirs of a deceased trustee if proof of death is
presented to the financial institution showing that the deceased trustee was
the survivor of all other persons named on the account either as trustee or
beneficiary.  A trust account may be paid, on request and according to its
terms, to the beneficiary upon presentation to the financial institution of
proof of death showing that the beneficiary or beneficiaries survived all
persons named as trustees. [L 1976, c 200, pt of §1; gen ch 1985]