New York Laws
Article 14-A - New York State College Choice Tuition Savings Program
695-D - Powers of the Comptroller.

(i) Accounts previously established and held in investment instruments
at such financial organization may be terminated;
(ii) Additional contributions may be made to such accounts;
(iii) No new accounts may be placed with such financial organization;
and
(iv) Existing accounts held by such depository shall remain subject to
all oversight and reporting requirements established by the comptroller.
b. If the comptroller terminates a financial organization as a program
manager or depository, he or she shall take custody of accounts held by
such financial organization and shall seek to promptly transfer such
accounts to another financial organization that is selected as a program
manager or depository and into investment instruments as similar to the
original instruments as possible.
9. The comptroller may enter into such contracts as it deems necessary
and proper for the implementation of the program.