N.Y. Economic Development Law § 186

§ 186. Transfers of economic development power. The transfer of an\neconomic development power allocation between facilities of a recipient\nshall be prohibited unless specifically approved by the board as\nconsistent with the criteria and requirements in sections one hundred\neighty-four, one hundred eighty-five and subdivision (g) of section one\nhundred eighty-seven of this article as may be applicable. Any transfer\nwhich occurs without the board's approval shall be invalid and such\ntransfer may subject the recipient to revocation of its allocation and\nmodification or revocation of its contract.\n