2006 New York Code - Provisional Charters.

 
    § 217. Provisional  charters.  On evidence satisfactory to the regents
  that the conditions for  an  absolute  charter  will  be  met  within  a
  prescribed  time,  they  may  grant a provisional charter which shall be
  replaced by an absolute charter when the conditions have been fully met;
  otherwise, after the specified time, on notice from the regents to  this
  effect,  the  provisional  charter  shall  terminate and become void and
  shall be surrendered to the regents.  No such provisional charter  shall
  give power to confer degrees.