Section 3554. General powers of the corporation

Except as limited by this
  title, the public  health  law,  the  mental  hygiene  law,  the  social
  services law, the education law, the civil practice law and rules or any
  other applicable law or regulation, the corporation shall have power:
    1.  to  sue and be sued and to participate in actions and proceedings,
  whether judicial, administrative, arbitrative or otherwise  and,  except
  as  is  otherwise  provided  in  subdivision four of section thirty-five
  hundred sixty-one  of  this  title,  the  court  of  claims  shall  have
  exclusive  jurisdiction in all actions against the corporation for money
  damages;
    2. to have a corporate seal, and to alter such seal at  pleasure,  and
  to  use  it  by  causing it or a facsimile to be affixed or impressed or
  reproduced in any other manner;
    3. to purchase, receive, take  by  grant,  gift,  devise,  bequest  or
  otherwise,  lease, or otherwise acquire, own, hold, improve, employ, use
  and otherwise deal in and  with,  real  or  personal  property,  or  any
  interest therein, wherever situated;
    4.  to  purchase,  take, receive, subscribe for, or otherwise acquire,
  own, hold, vote, employ,  sell,  lend,  lease,  exchange,  transfer,  or
  otherwise  dispose  of,  mortgage, pledge, use and otherwise deal in and
  with, bonds and  other  obligations,  shares,  or  other  securities  or
  interests  issued  by  others,  whether  engaged in similar or different
  business, governmental, or other activities;
    5. to accept subventions from other persons or any unit of government;
    6. to sell, convey, lease, exchange, transfer or otherwise dispose of,
  or mortgage or pledge, or create a security interest in, all or  any  of
  its  property,  or  any  interest  therein, wherever situated, upon such
  terms and conditions  and  in  such  manner  as  the  corporation  shall
  determine;
    7. to make capital contributions to other not-for-profit corporations;
    8.  (a)  to  offer  participation  in  the  New  York  state and local
  employees' retirement system for all its officers and employees, and  to
  establish  and  carry  out other retirement plans authorized pursuant to
  the retirement and social security law, which may be offered to  all  of
  its  officers  and employees not participating in the New York state and
  local employees' retirement systems, and  to  establish  and  carry  out
  other  incentive and benefit plans, trusts and provisions for any or all
  of its officers and employees, subject to the applicable  provisions  of
  article  fourteen  of the civil service law; (b) provided, further, that
  employees of the corporation established pursuant to section thirty-five
  hundred fifty-three of this article  who  are  division  and  department
  chairpersons holding scientific degrees, scientific faculty members such
  as assistant members, associate members, members, distinguished members,
  or  who have graduate faculty status at the level of assistant professor
  or above at the Roswell Park graduate division of the  state  university
  of  New  York  at  Buffalo and as certified by the dean of the division,
  facility directors, and those  employees  who  are  in  titles  such  as
  president  and  chief  executive  officer,  senior  vice president, vice
  president, assistant vice  president,  general  counsel,  and  executive
  director,  and who are eligible to participate in the New York state and
  local employees' retirement system may elect, within ninety days of  the
  effective  date  of  this  paragraph  or  within ninety days of becoming
  eligible to participate in such system, in lieu of participating in such
  system, to participate in the optional retirement program  available  to
  employees  of  the  state  university  of  New  York pursuant to article
  eight-B of the education law, subject to the  terms  and  conditions  of
  that article and to the provisions of the retirement and social security
  law;

    9.  to  be  a promoter, partner, member, associate or manager of other
  not-for-profit activities or business enterprises or ventures, or to the
  extent permitted in any other jurisdiction  to  be  an  incorporator  of
  other corporations of any type or kind;
    10.  except  as limited by state law or regulation, to fix, compromise
  and collect rates, rentals, fees, lease payments and other  charges  for
  the  services  rendered  by  it  or  for  use  of  the facilities owned,
  controlled or administered by, or in the exercise of the powers of,  the
  corporation;
    11.  to  make contracts, give guarantees and incur liabilities, borrow
  money at such rates of interest as the corporation may determine,  issue
  notes, bonds and other obligations, and secure any of its obligations by
  mortgage  or  pledge  of  all  or  any  of  its property or any interest
  therein, wherever situated;
    12. to issue bonds for any of its corporate purposes or its  projects,
  or  to  refund  the  same,  and to provide for the rights of the holders
  thereof;
    13. to lend money, invest and reinvest its funds, and  take  and  hold
  real  and  personal  property  as  security  for the payment of funds so
  loaned or invested;
    14. to conduct the activities of the corporation and have offices  and
  exercise  the powers granted by this title in any jurisdiction within or
  without the United States;
    15. to appoint such officers, employees and agents as the  corporation
  may require for the performance of its duties and, subject to applicable
  provisions  of agreements negotiated pursuant to article fourteen of the
  civil service law, to fix and determine  their  qualifications,  duties,
  and compensation;
    16.  to  retain or employ counsel, auditors, and engineers, subject to
  applicable provisions  of  agreements  negotiated  pursuant  to  article
  fourteen  of  the  civil  service  law  where  appropriate  and, private
  consultants on a contract basis or otherwise for rendering professional,
  management or technical services and advice;
    17. to make, adopt, amend, enforce and repeal rules for its governance
  and internal management and  personnel  practices,  subject  to  article
  fourteen of the civil service law, where applicable;
    18.  to  make  and  alter by-laws for its organization and management,
  and, subject to agreements with its bondholders, to make and alter rules
  and regulations governing the exercise of its powers and the fulfillment
  of its purposes under this title;
    19. to designate the depositories of its money;
    20. to establish its fiscal year;
    21. to insure or  otherwise  to  provide  for  the  insurance  of  the
  corporation's property or operations and against such other risks as the
  corporation may deem advisable; and
    22.  to  do  all  things necessary, convenient or desirable, including
  ancillary and incidental activities, to carry out its purposes  and  for
  the exercise of the powers granted in this title.