4. Every person subsequently desiring to subscribe for shares of the partnership shall execute an instrument in writing, in form 2 of this act, whereby he undertakes to become a shareholder, and, upon the acceptance of such subscription by the executive committee of the partnership and upon payment of the shares in full, such person shall become a shareholder for the number of shares set forth in his said subscription.
R. S. 1964, c. 284, s. 4.