New York Laws
Article 12 - New York City Housing Development Corporation
654-B - Housing Assistance Corporation.

(a) sue and be sued;
(b) have a seal and alter the same at pleasure;
(c) make and alter by-laws for its organization and internal
management and make rules and regulations governing the use of its
property and facilities;
(d) make and execute contracts and all other instruments necessary or
convenient for the exercise of its powers and functions under this
section;
(e) acquire, hold and dispose of real or personal property for its
corporate purposes;
(f) engage the services of private consultants on a contract basis for
rendering professional and technical assistance and advice;
(g) procure insurance against any loss in connection with its
activities, properties and other assets in such amount and from such
insurers as it deems desirable;
(h) appoint officers, agents and employees, prescribe their duties and
qualifications and fix their compensation subject to the provisions of
the civil service law and the rules of the civil service commission of
the city;
(i) invest any funds, or other monies under its custody and control in
the same manner as the corporation; and
(j) to do any and all things necessary or convenient to carry out its
purposes and exercise the powers expressly given and granted in this
section.
7. The subsidiary corporation and its corporate existence shall
continue until terminated by law. Upon termination of the existence of
the subsidiary corporation all of its rights and properties shall pass
to and be vested in the city. No such termination shall take effect as
long as obligations of the subsidiary corporation remain outstanding.
8. The city and the corporation shall have the power to transfer to
such subsidiary corporation agents, employees and facilities of the city
or corporation to enable it to fulfill the purposes of this section.