New York Public Health Law Section 404 - Hospitals; property; authority to acquire and to hold.

  404. Hospitals; property; authority to acquire and to hold. 1.  The
  board of visitors of each state hospital in the department, as the agent
  of the department, is hereby authorized to take and hold, in the name of
  and for the people of the state, by  grant,  gift,  devise  or  bequest,
  property to be applied, principal or income, or both, for the benefit of
  the  hospital,  institution  or of any patient or patients therein or to
  the maintenance and the general uses of the hospital or institution.
2. No property shall be taken or held as  provided  by  this  section,
  except  with  the  approval  of the commissioner unless the rules of the
  commissioner  otherwise  provide.  Utilization  and  administration   of
  property  so  taken  and  held  shall  be  subject  to  the rules of the
  commissioner.
3. Property taken and held  as  provided  by  this  section  shall  be
  applied  or  expended for the purpose specified by the donor, subject to
  the rules of the commissioner.
4. The expenditure of moneys derived from any source pursuant  to  the
  provisions  of  this  section,  including  income,  shall  be  under the
  immediate direction of the hospital, or treasurer  of  the  institution,
  except as the rules of the commissioner may otherwise provide.

Last modified: February 3, 2019