Section 214. Transfer of real property to redevelopment corporation

Notwithstanding any requirement of law to the contrary or the absence of
  direct provision therefor in the instrument under which a  fiduciary  is
  acting,  every  executor,  administrator,  trustee,  guardian  or  other
  person, holding trust funds or acting in a  fiduciary  capacity,  unless
  the  instrument  under which such fiduciary is acting expressly forbids,
  the state, its subdivisions, cities, all other public bodies, all public
  officers, corporations organized under or subject to the  provisions  of
  the banking law (including savings banks, savings and loan associations,
  trust  companies, private bankers and private banking corporations), the
  superintendent of banks as conservator, liquidator or  rehabilitator  of
  any  such  person, partnership or corporation, persons, partnerships and
  corporations organized  under  or  subject  to  the  provisions  of  the
  insurance   law,   the   superintendent  of  insurance  as  conservator,
  liquidator  or  rehabilitator  of  any  such  person,   partnership   or
  corporation,  any  of  which  owns  or  holds any real property within a
  development area, may grant, sell, lease or otherwise transfer any  such
  real  property  to a redevelopment corporation, and receive and hold any
  cash, stocks, income  debentures,  mortgages,  or  other  securities  or
  obligations,   secured   or   unsecured,   exchanged  therefor  by  such
  redevelopment corporation, and may execute such instruments and do  such
  acts  as  may  be deemed necessary or desirable by them or it and by the
  redevelopment corporation in connection with  the  development  and  the
  development plan.