2016 New York Laws
PML - Racing, Pari-Mutuel Wagering and Breeding Law
Article 6 - (Racing, Pari-Mutuel Wagering and Breeding Law) NEW YORK CITY OFF-TRACK BETTING CORPORATION
604 - Powers of the corporation.

 604. Powers of the corporation. The corporation shall have power:
1. To sue and be sued;
2. To have a seal and to alter the same at its pleasure;
3.  To acquire, hold, lease, rent and dispose of personal property for
  its corporate purpose;
4. To acquire, in the name of the state,  by  purchase,  condemnation,
  gift,  grant  or devise or otherwise, and to use, real property which is
  necessary or convenient for carrying out its corporate purpose; provided
  that the corporation shall not condemn any real property  without  first
  having  obtained the consent of the mayor. All real property acquired by
  the corporation by condemnation shall be acquired in the manner provided
  by law for the condemnation of real property by the state;
5. To make by-laws for the management and regulation of its affairs;
6. With the consent of the state, to use agents, officers,  employees,
  and  facilities  of the state, paying to the state its agreed proportion
  of the compensation or costs;
7. To appoint officers,  agents  and  employees,  to  prescribe  their
  qualifications  and  to fix their compensation; subject, however, to the
  provisions of section six hundred six of this article;
8. To make contracts and leases, including joint ventures  with  third
  parties  or  entities,  and  to  execute  all  instruments  necessary or
  convenient to accomplish its corporate purpose; provided, however,  that
  the corporation may only enter into agreements for the purchase or lease
  of  any  property to be used in whole or in part as an off-track betting
  branch office which is  conditioned  upon  the  location  thereof  being
  approved  by  the  site selection board; and further provided, that such
  location prior to its use as such off-track betting branch office  shall
  have been approved by the site selection board;
9.  To  construct  such buildings, structures and facilities as may be
  necessary;
10. To accept grants, loans and contributions from the United  States,
  the  state  or  any  agency or instrumentality of either of them, or the
  city, or  any  person,  including  gifts  or  transfers  by  bequest  or
  otherwise,  and  to  use  same  or  expend  the proceeds thereof for its
  corporate purpose;
11. In the manner and subject to the terms and conditions set forth in
  this article, and article  five-a  of  this  chapter  to  establish  and
  conduct  a  system of off-track pari-mutuel betting in the city on horse
  races;
12. a. To promulgate, amend and repeal  such  rules  and  regulations,
  consistent with the provisions of this article, as it may deem necessary
  or  desirable for the carrying out of the purposes of this article. Such
  rules and regulations shall have the force and effect of law.
b. No rule or regulation promulgated by the  corporation  pursuant  to
  the  provisions  of  this  subdivision  shall  be effective until a copy
  thereof is filed with the racing and wagering board.
c. Any violation of any rule or regulation, filed with the racing  and
  wagering  board  and  designated  by the letter "R" by resolution of the
  board of directors of the corporation, shall be an offense triable by  a
  judge  of  the  criminal  court  of the city, and shall be punishable by
  imprisonment for not more than six months, or by a fine of not more than
  one thousand dollars, or by both such imprisonment and  fine.  All  such
  fines  collected  shall  be paid into the general fund of the state. Any
  such rule or regulation shall be effective, notwithstanding that any act
  or omission made an offense or punishable thereby  may  be  a  crime  or
  offense or punishable under any other provision of law;

13.  To perform such other acts and engage in such other activities as
  may be necessary and proper for exercising its powers and performing its
  duties under this article.