Section 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 insurance 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.