N.Y. Educ. Law § 217

§ 217. Provisional charters. On evidence satisfactory to the regents\nthat the conditions for an absolute charter will be met within a\nprescribed time, they may grant a provisional charter which shall be\nreplaced by an absolute charter when the conditions have been fully met;\notherwise, after the specified time, on notice from the regents to this\neffect, the provisional charter shall terminate and become void and\nshall be surrendered to the regents. No such provisional charter shall\ngive power to confer degrees.\n