SECTION 27. Deceased employees; payment of wages to nominated beneficiaries

Whenever any employee or former employee of the authority dies, and the authority owes his estate any sum or sums by reason of services rendered by him for wages vacation allowances, and neither a duly appointed executor or administrator nor a administrator has made written demand for payment upon the treasurer of the authority and treasurer shall not otherwise have actual notice that proceedings relative to the formal or settlement of such estate have been commenced in any probate court, such sum or sums may, in the discretion of the authority, be paid after the expiration of 30 days from the death of such employee to such person as may have been nominated as beneficiary, on a form approved by the directors and filed with the treasurer by such employee during his lifetime or, if there is no such beneficiary then to the surviving spouse or next of kin of such employee. Payments made as provided in this section shall discharge all liability of the authority to all persons with respect to such sum or sums.