N.Y. Educ. Law § 379
As soon as practicable after the completion of work, the fund shall make available to the state university trustees for the purposes intended the academic buildings, dormitories and other facilities constructed, acquired, reconstructed, rehabilitated or improved under this article. Responsibility for the maintenance and routine repair of facilities other than dormitories and for the maintenance and upkeep of adjacent real property shall remain in the fund after the completion of work and shall be transferred from the fund to the state university trustees pursuant to agreement between them, and upon such transfer all right, title and interest of the fund in such facilities shall terminate; provided that in the case of facilities constructed, acquired, reconstructed, rehabilitated or improved solely out of appropriations and grants or gifts of money, such responsibilities shall be so transferred not later than four months after the completion of work. Prior to the transfer of such responsibilities, the state university trustees may act as agent for the fund for the maintenance and routine repair of such facilities and for the maintenance and upkeep of adjacent real property. This section shall not apply when the state university construction fund acts as agent for a foundation or other not-for-profit entity created by or for the state university of New York or when providing facilities or projects authorized by section three hundred seventy-two-a of this article.
N.Y. Educ. Law § 379