N.Y. BNK Law § 420-C

§ 420-c. General powers of the fund. Except as otherwise limited by\nthis article, the fund shall have power:\n 1. To sue and be sued;\n 2. To have a seal and alter the same at pleasure;\n 3. To borrow money and issue negotiable notes, bonds or other\nobligations and to provide for the rights of the holders thereof;\n 4. To invest any funds held in reserve or sinking funds, or any monies\nnot required for immediate use or disbursement, at the discretion of the\nfund, in obligations of the state or the United States government or\nobligations the principal and interest of which are guaranteed by the\nstate or the United States government;\n 5. Subject to the approval of the superintendent of financial\nservices, to establish rules and regulations governing the exercise of\nits powers and the fulfillment of its purposes under this article;\n 6. To enter into contracts and leases and to execute all instruments\nnecessary or convenient;\n 7. To acquire, hold and dispose of real or personal property in the\nexercise of its powers;\n 8. To appoint such officers and employees as it may require for the\nperformance of its duties, and to fix and determine their\nqualifications, duties, and compensation and to retain or employ\nauditors, engineers and private consultants on a contract basis or\notherwise for rendering professional or technical services and advice,\nand with the approval of the attorney general of the state of New York,\nto retain or employ counsel;\n 9. To conduct investigations and hearings in the furtherance of its\ngeneral purposes, and in aid thereof have access to any books, records\nor papers relevant thereto; and if any person whose testimony shall be\nrequired for the proper performance of the duties of the fund shall fail\nor refuse to aid or assist the fund in the conduct of any investigation\nor hearing, or to produce any relevant books, records or other papers,\nthe fund is authorized to apply for process of subpoena, to issue out of\nany court of general original jurisdiction whose process can reach such\nperson, upon due cause shown;\n 10. In the performance of the fund's duties, to utilize the services\nof employees of the department of financial services, reimbursing the\ndepartment of financial services for such services and expenses therein;\n 11. To do all things necessary, convenient or desirable to carry out\nits purposes and for the exercise of the powers granted in this article.\n