N.Y. Transportation Corporations Law § 101: Limitation of powers

§ 101. Limitation of powers. Nothing in this article shall be so

construed as to permit any such corporation to engage in manufacture or

production, except for its own use, of power, heat, light, supplies and

equipment or to carry on the business of generating, selling or

distributing electricity for light, heat or power, nor shall the right,

operation and use of such privileges be extended beyond the streets or

marginal streets bounding or occupied by the property owned or operated

by such corporation. No railroad corporation, and no corporation or

joint-stock association engaged in carrying on an express business,

shall either directly or indirectly, or through the medium of a holding

company or otherwise, purchase, acquire or hold, any stock, bond or

evidence of indebtedness issued by any such corporation.