§ 1203-a. Subsidiary corporation. 1. Notwithstanding the provisions of\nthis title or of any general, special or local law to the contrary, the\ncity and the transit authority may enter into an agreement which shall\nprovide that any omnibus lines hereafter acquired by the city may be\nleased by the city for operation and maintenance to a public benefit\ncorporation which shall be a subsidiary of the transit authority. The\nstatus of such officers and employees as shall be taken into the service\nof such subsidiary corporation, including those who had been employed by\nthe former owner of any such omnibus lines, shall be governed\nexclusively by the provisions of this section.\n 2. A public benefit corporation entitled Manhattan and Bronx surface\ntransit operating authority (hereinafter referred to as the subsidiary\ncorporation) is hereby created. The purpose of said subsidiary\ncorporation shall be to operate, pursuant to the powers conferred\nhereunder and for a temporary period, the omnibus lines hereafter\nacquired by the city, until the said omnibus lines shall be sold or\notherwise disposed of to private or public operation. The directors of\nsuch subsidiary corporation shall be the persons holding the offices of\nchairman and members of the transit authority or their successors. The\nprovisions of this title concerning the number of members of the\nauthority, the number thereof required for a quorum and to transact\nbusiness, the powers and functions of the chairman and his authority to\ndelegate the same, and the effect which the tenure of the members and\nchairman has upon the holding of other public office shall all be\napplicable with like force and effect to the directors of such\nsubsidiary corporation.\n 3. The subsidiary corporation shall have all of the powers vested in\nthe transit authority by section twelve hundred four of this title\nexcept those contained in subdivisions five, six, eight, nine, fourteen\nand sixteen thereof. In addition, such subsidiary corporation shall have\nthe following powers:\n (a) pursuant to the provisions of this section, to maintain and\noperate the omnibus lines transferred to it by the city;\n (b) to appoint officers and employees, assign powers and duties to\nthem and fix their compensation. Said officers and employees shall not\nbecome, for any purpose, employees of the city or of the transit\nauthority and shall not acquire civil service status or become members\nof the New York city employees' retirement system but, shall, for\npurposes of subparagraph (i) of paragraph three of subsection (c) of\nsection six hundred twelve of the tax law be deemed to be officers and\nemployees of a subdivision of the state;\n (c) to improve, maintain and operate such buildings, structures and\nfacilities as may be necessary or convenient;\n (d) with the consent of the transit authority, to use officers,\nemployees, agents and facilities of the transit authority and to\nreimburse the transit authority therefor;\n (e) to utilize business methods and efficient procedures to promote\nthe safety and convenience of the traveling public, in the carrying out\nof its corporate purposes;\n (f) to operate omnibus lines on those routes in the city of New York\nwhere on February twenty-eighth, nineteen hundred sixty-two, omnibus\nlines were operated under franchises or temporary certificates of\nconvenience and necessity which have been revoked, terminated, rescinded\nor condemned, or acquired by any other means, and to extend such routes\nso as to provide the complete service operated on February\ntwenty-eighth, nineteen hundred sixty-two; and such operation, together\nwith the necessary extensions, shall be deemed to constitute operation\nover approved routes with the same force and effect as if the said\nroutes had been duly approved by the board of estimate of the city, as\nprovided by law; and to operate on such other routes as the board may\nauthorize by resolution adopted only after a
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