Section 3643. Defense and indemnification

The corporation shall not execute
  any  of  its  powers, including the special powers authorized by section
  thirty-six hundred thirty-one of this  title,  except  as  necessary  to
  commence  its  corporate  existence,  until  it  has elected to make the
  provision of section eighteen of the public officers law  applicable  to
  its employees (as such term is defined in section eighteen of the public
  officers  law)  pursuant  to  subdivision two of such section; provided,
  however, that nothing contained within this section shall be  deemed  to
  permit  the  corporation to extend the provisions of section eighteen of
  the public officers law to any independent contractor.