Section 3239. Resources of the corporation

1. Subject to the provisions of
  this title, the directors of  the  corporation  shall  receive,  accept,
  invest,  administer,  expend and disburse for its corporate purposes all
  monies for the corporation from whatever sources derived including:
    (a) payments by the state pursuant to the provisions of section  three
  thousand two hundred forty of this title; and
    (b)  any  other  payments, gifts, or appropriations to the corporation
  from any other source.
    2. The monies of the corporation shall be held by the corporation  and
  may  be  invested  as  provided in subdivision ten of section thirty-two
  hundred thirty-five of this title. Subject to provisions of any contract
  with bondholders or noteholders, all monies received by the  corporation
  other  than as proceeds of its bonds or notes which, together with other
  monies of the corporation available for the operating  expenses  of  the
  corporation,  the  payment of debt service and the other purposes listed
  in section thirty-two hundred forty of this  title,  exceed  the  amount
  required  for  such  purposes shall be applied by the corporation to the
  acceleration of the payment of principal on the bonds or  notes  of  the
  corporation or to the redemption thereof.
    3.  The comptroller or legally authorized representative, from time to
  time may examine the books and accounts of  the  corporation,  including
  its  receipts,  disbursements, contracts, reserves, investments, and any
  other matters relating to its financial standing.  Such  an  examination
  should  be  conducted  by  the  comptroller  or  such legally authorized
  representative at least once every  five  years;  in  lieu  of  such  an
  examination, the comptroller may accept from the corporation an external
  examination  of  the  books  and  accounts  made  at  the request of the
  directors of the corporation.