The commencement of a proceeding under article seventy-eight of the civil practice law and rules, to review any action by the superintendent in issuing or in refusing to issue, or in suspending or revoking, or in refusing to suspend or revoke, any certificate under this article, shall stay such action of the superintendent for a period of thirty days. Such stay shall not be extended for a longer period unless the court shall determine, after a preliminary hearing of which the superintendent is notified forty-eight hours in advance, that a stay of the superintendent's action pending the final determination or further order of the court will not unduly injure the interests of the people of the state.
New York Legal Code