N.Y. Vill. Law § 16-1606

§ 16-1606 Effect of reincorporation. If the proposition be adopted,\nthe reincorporation of the village under this chapter shall take effect\nimmediately upon the filing of the certificate of election in the office\nof the village clerk and the secretary of state. From and after such\nfiling such village shall be deemed incorporated under this chapter, and\nshall possess all the powers, enjoy all the privileges and be subject to\nall the liabilities, in all respects and for all purposes, as if it had\nbeen originally incorporated thereunder. Such reincorporation shall not\naffect any action then pending or cause of action existing by or against\nsuch village, nor property rights thereof under the provisions of any\nlaw to which it was then subject, nor affect the validity of any lawful\nordinance previously enacted. The officers of the village in office\nwhen the reincorporation takes effect shall continue to hold their\noffices until the end of their term or until their successors shall have\nqualified. The term of office of an officer elected at an annual\nelection, at which the proposition to reincorporate was adopted, shall\nnot be affected by such reincorporation and such term shall begin at\nnoon on the first Monday in the month following such election and\ncontinue for a full term expiring on the first Monday in the month\nfollowing the election at which their successors shall have been\nelected.\n