The provisions of the Business Corporation Law applicable to payment of subscriptions for shares of stock and default in payment of such subscriptions shall apply to the payment of subscriptions for shares of an institution and the rights of the institution in the event of default in payment of subscriptions for shares, except that references in those provisions to a “corporation” shall mean an institution as defined for the purpose of this chapter and references to the “registered office” of a corporation shall mean the principal office of the institution and except that any advertisement provided for under those sections shall comply with the requirements for advertisements under section 109¹ of this act.