N.Y. Public Authorities Law § 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