§ 2564. Special powers and duties of the corporation. The corporation
shall have the power and duty:

1. To maintain and operate the convention center including the
expansion project; to rent parts thereof, and grant concessions, all on
such terms and conditions as it may determine are fair and reasonable,
subject, in the case of rentals and concessions other than for
exhibition purposes, to the prior approval of the state comptroller;

2. To approve the plan and design of the convention center project as
required by a chapter of the laws of nineteen hundred seventy-nine and
the plan and design of the expansion project and any convention hotel
financed by chapter three of the laws of two thousand four;

3. To transfer or otherwise make available to the subsidiary of New
York state urban development corporation organized pursuant to said
chapter of the laws of nineteen hundred seventy-nine, without
consideration and when and as requested by said subsidiary, any or all
rights, property and assets which shall have been transferred to the
corporation pursuant to section twenty-two-a of chapter ten hundred
eleven of the laws of nineteen hundred seventy-one as added by section
eighteen of said chapter of the laws of nineteen hundred seventy-nine;
and

4. To establish a subsidiary for the purposes of forming a pure
captive insurance company as provided in section seven thousand two of
the insurance law. Prior to forming such captive insurance company, the
corporation or its subsidiary shall complete a feasibility study
including, but not limited to, an analysis of the actuarial risks and
feasibility associated with the creation of the insurance captive, a
measurement of value of such insurance captives relative to financing
risk utilizing commercial insurance or self-financing, including in the
aggregate and by respective insurance type, the advantages and
disadvantages of potential insurance captive structures, and a domicile
analysis. Such feasibility study shall be provided to the temporary
president of the senate, the speaker of the assembly, and the governor
upon completion, and shall be conducted by an independent risk
consultant firm or captive insurance broker licensed by the state to
perform such duties. Such related risk consultant firm, captive
insurance broker, or any subsidiaries or affiliates thereof shall be
prohibited from providing any management services for the captive
insurance company for the corporation for no less than five years from
the date of completing the study.