19-19-503. Death benefits. (1) Upon the death of a police officer on the active list or retired list of a city, the officer's surviving spouse, if there is one, must, as long as the spouse remains the surviving spouse, be paid from the city's police retirement fund a sum equal to one-half the base salary, excluding overtime and payments in lieu of sick leave and annual leave, that the officer was receiving as an active officer computed on the highest salary received in any 1 month during the last year of active service.

(2) If the officer leaves one or more dependent minor children, upon the officer's death if there is no surviving spouse or upon the death or remarriage of the surviving spouse, the surviving dependent minor children, collectively if there is more than one, must receive the same monthly payments as a surviving spouse would receive, until they reach 18 years of age or are married. The payments must be made to their duly appointed, qualified, and acting guardian for their use. If there is more than one child, upon each child reaching 18 years of age or marrying, the pro rata payments to that child must cease and must be made to the remaining children until all the children have either reached 18 years of age or are married.