2015 New York Laws
EDN - Education
Title 5 - TAXATION AND FINANCIAL ADMINISTRATION
Article 75 - (3701 - 3713) TRUSTS FOR SCHOOLS; GOSPEL AND SCHOOL LOTS
3701 - Property to be held in trust for public schools.

 3701. Property  to  be  held  in trust for public schools.  Real and
  personal estate may be granted, conveyed, devised, bequeathed and  given
  in trust and in perpetuity or otherwise, to the state, or to the regents
  or  to  the  commissioner of education for the support or benefit of the
  public schools, within the state, or within any part or portion  of  it,
  or of any particular public schools within it; and to any county, or the
  district  superintendents  of any county, or to any city or any board of
  officers thereof, or to any supervisory district or its  superintendent,
  or  to  any  town, or supervisor of a town, or to any school district or
  its trustees or board of education,  for  the  support  and  benefit  of
  public  schools  within such county, city, supervisory district, town or
  school district, or within any part or portion thereof respectively,  or
  for  the  support  and benefit of any particular public schools therein.
  No such grant, conveyance, devise or bequest shall be held void for  the
  want  of  a named or competent trustee or donee, but where no trustee or
  donee, or an incompetent one is named, the title and trust shall vest in
  the people of the state, subject to its acceptance by  the  legislature,
  but such acceptance shall be presumed.