N.Y. Pub. Auth. Law § 2532

§ 2532. New York city stabilization reserve corporation. (a) There is\nhereby created the New York city stabilization reserve corporation. The\ncorporation shall be a corporate governmental agency constituting a\npublic benefit corporation. It shall have the powers and privileges of a\ncorporation and all of its business shall be transacted, all funds\ninvested, all warrants for money drawn and payments made, and all cash\nand securities and other personal property held under its corporate\nname.\n (b) The corporation shall continue until all its liabilities have been\nmet or otherwise discharged and until its existence shall have been\nterminated by law. Upon the termination of the existence of the\ncorporation, all of its rights and property shall pass to and be vested\nin the city.\n