New York Laws
Article 6 - State Insurance Fund.
81 - Offices, Lands, Leaseholds and Buildings.

§ 81. Offices, lands, leaseholds and buildings. The commissioners, any
law to the contrary notwithstanding, (a) may lease, sub-lease, rent or
otherwise hire, on behalf of and in the sole name of the state insurance
fund and under such terms and conditions and for such period or periods
not in excess of ninety-nine years as in the judgment of the
commissioners may seem to the best interests of the fund, suitable
premises in the city of New York and in the city of Albany, and maintain
offices therein, and may in the same manner establish and maintain other
offices at such places in the state as may be required to properly and
conveniently transact the business of the fund and (b) the commissioners
may in the name of the state insurance fund, subject to the approval of
the superintendent of financial services as provided in section
eighty-seven of this article, out of its surplus, (1) acquire by
purchase or acquire by gift or devise and hold and convey land with or
without buildings or improvements thereon, or acquire by purchase,
sub-lease, assignment, transfer, gift, devise or in any other manner and
hold and convey any lease, sub-lease or leasehold of real property and
for any term of years not in excess of ninety-nine years, and (2)
construct a new building or buildings on such land or leasehold or
reconstruct or operate and maintain existing buildings, as the case may
be, with facilities and appurtenances to provide suitable office space
for the convenient transaction of the business of the state insurance
fund; and (c) notwithstanding the provisions of any general, special or
local law, the commissioners are authorized to rent any available space
in such premises, buildings or property not required by the state
insurance fund to private tenants or to public agencies, with or without
leases, upon such terms and rentals as the commissioners deem to be for
the best interests of the state insurance fund. The commissioners may
manage and operate such properties or leaseholds either by forces and
equipment of the fund or, with the approval of the director of the
budget, by contracting for the management and operation of such
properties or leaseholds with any person, firm or corporation that they
shall select and that is engaged in such business but no such contract
shall be made for a period in excess of five years, or by a combination
of such methods. The commissioners may, from time to time, enter into
agreements modifying any lease or leasehold made or acquired as above
provided. The obligation of the state insurance fund or any lease made,
modified or acquired or on any contract entered into pursuant to this
section shall not be limited by any provisions of section eighty-eight
of this article or of section one hundred sixty-one-a of the state
finance law. The commissioners may sue and be sued in the name of the
state insurance fund in any form of action or proceeding on all matters
relating to ownership, management, operation and control of any such
land and buildings or leaseholds and on all matters relating to its
rights and obligations under any lease, sub-lease, renting or hiring of
any such land and buildings and to its possession thereof and removal
therefrom.

Structure New York Laws