2016 New York Laws
TCP - Transportation Corporations
Article 3 - (Transportation Corporations) TELEGRAPH AND TELEPHONE CORPORATIONS.
29 - Transfer of property to other corporations.

 29. Transfer of property to other corporations. Any such corporation
  may   lease,  sell  or  convey  its  property,  rights,  privileges  and
  franchises, or  any  interest  therein,  or  any  part  thereof  to  any
  telegraph,  telephone  or  telegraph and telephone corporation organized
  under or created by the laws of this or any other state, and may acquire
  by purchase, lease or conveyance the  property  rights,  privileges  and
  franchises,  or  any  interest  therein  or  part  thereof  of  any such
  corporation, and may make payments therefor in its own stock,  money  or
  property, or receive payment therefor in the stock, money or property of
  the corporation to which the same may be so sold, leased or conveyed.