N.Y. Public Service Law § 5-b

§ 5-b. Corporations subject to chapter although not transacting\nbusiness. Corporations formed to acquire property or to transact\nbusiness which would be subject to the provisions of this chapter, and\ncorporations possessing franchises for any of the purposes contemplated\nby this chapter, shall be deemed to be subject to the provisions of this\nchapter although no property may have been acquired, business transacted\nor franchises exercised.\n