§ 270-b. Exemption of certain transfers to legatees and others. The tax imposed by sections two hundred seventy and two hundred seventy-a of this chapter shall not be imposed upon any deliveries or transfers by an executor or administrator to a legatee, heir or distributee of shares or certificates of stock if it is shown to the satisfaction of the tax commission that the value of such shares or certificates is not greater than the amount of the tax that would otherwise be imposed on such delivery or transfer.