New York Laws
Title 1-A - Long Island Power Authority
1020-I - Subsidiaries.

* § 1020-i. Subsidiaries. 1. The authority shall have the right to
exercise and perform all or part of its powers and functions through one
or more wholly owned subsidiaries by acquiring the voting shares thereof
or by resolution of the board directing any of its trustees, officers or
employees to organize a subsidiary corporation pursuant to the business
corporation law, the not-for-profit corporation law or the
transportation corporations law. Such resolution shall prescribe the
purpose for which such subsidiary corporation is to be formed.

2. The authority may transfer to any subsidiary corporation any
moneys, property (real, personal or mixed) or facilities in order to
carry out the purposes of this title. Each such subsidiary corporation
shall have all the privileges, immunities, tax exemptions and other
exemptions of the authority to the extent the same are not inconsistent
with the statute or statutes pursuant to which such subsidiary was
incorporated provided, however, that in any event any such subsidiary
corporation shall be entitled to exemptions from the state public
service law and any regulation by, or the jurisdiction of, the public
service commission, and the state environmental quality review act to
the extent provided in subdivision two of section one thousand twenty-s
of this title.

* NB There are 2 § 1020-i's

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