N.Y. Transportation Corporations Law § 29: Transfer of property to other corporations

§ 29. Transfer of property to other corporations. Any such corporation

may lease, sell or convey its property, rights, privileges and

franchises, or any interest therein, or any part thereof to any

telegraph, telephone or telegraph and telephone corporation organized

under or created by the laws of this or any other state, and may acquire

by purchase, lease or conveyance the property rights, privileges and

franchises, or any interest therein or part thereof of any such

corporation, and may make payments therefor in its own stock, money or

property, or receive payment therefor in the stock, money or property of

the corporation to which the same may be so sold, leased or conveyed.