81. Offices, lands, leaseholds and buildings. The commissioners, any law to the contrary notwithstanding, (a) may lease, sub-lease, rent or otherwise hire, on behalf of and in the sole name of the state insurance fund and under such terms and conditions and for such period or periods not in excess of ninety-nine years as in the judgment of the commissioners may seem to the best interests of the fund, suitable premises in the city of New York and in the city of Albany, and maintain offices therein, and may in the same manner establish and maintain other offices at such places in the state as may be required to properly and conveniently transact the business of the fund and (b) the commissioners may in the name of the state insurance fund, subject to the approval of the superintendent of financial services as provided in section eighty-seven of this article, out of its surplus, (1) acquire by purchase or acquire by gift or devise and hold and convey land with or without buildings or improvements thereon, or acquire by purchase, sub-lease, assignment, transfer, gift, devise or in any other manner and hold and convey any lease, sub-lease or leasehold of real property and for any term of years not in excess of ninety-nine years, and (2) construct a new building or buildings on such land or leasehold or reconstruct or operate and maintain existing buildings, as the case may be, with facilities and appurtenances to provide suitable office space for the convenient transaction of the business of the state insurance fund; and (c) notwithstanding the provisions of any general, special or local law, the commissioners are authorized to rent any available space in such premises, buildings or property not required by the state insurance fund to private tenants or to public agencies, with or without leases, upon such terms and rentals as the commissioners deem to be for the best interests of the state insurance fund. The commissioners may manage and operate such properties or leaseholds either by forces and equipment of the fund or, with the approval of the director of the budget, by contracting for the management and operation of such properties or leaseholds with any person, firm or corporation that they shall select and that is engaged in such business but no such contract shall be made for a period in excess of five years, or by a combination of such methods. The commissioners may, from time to time, enter into agreements modifying any lease or leasehold made or acquired as above provided. The obligation of the state insurance fund or any lease made, modified or acquired or on any contract entered into pursuant to this section shall not be limited by any provisions of section eighty-eight of this article or of section one hundred sixty-one-a of the state finance law. The commissioners may sue and be sued in the name of the state insurance fund in any form of action or proceeding on all matters relating to ownership, management, operation and control of any such land and buildings or leaseholds and on all matters relating to its rights and obligations under any lease, sub-lease, renting or hiring of any such land and buildings and to its possession thereof and removal therefrom.
Last modified: February 3, 2019