Sec. 3.

A copy of said articles of association, together with a copy of the charter and constitution of said supreme senate, shall be filed with the corporation and securities bureau of the department of commerce, and thereupon the persons who shall have signed such articles of association, their associates and successors, shall be a body politic and corporate, by the name expressed in the articles of association, and by that name they and their successors shall have succession, and shall be persons in the law, capable to purchase, take, receive, hold, and enjoy to them and their successors, estates real and personal, of suing and being sued, and they and their successors may have a common seal which may be changed and altered at their pleasure: Provided, That the value of such real and personal estate shall not exceed the sum of $50,000.00, and that they and their successors shall have authority and power to give, grant, sell, lease, demise, and dispose of said real and personal estate or any part thereof, at their will and pleasure and the proceeds, rents, and income shall be devoted exclusively to beneficent and benevolent purposes of the Knights of the Ancient Essenic Order. Said corporation shall have full power and authority to make and establish rules, regulations, and by-laws, for regulating and governing all the affairs and business of said corporation, according to the laws of this state and the United States and to designate, elect, or appoint from its members such officers under such name and style as shall be in accordance with the constitution of the supreme senate.

History: 1893, Act 39, Imd. Eff. Apr. 19, 1893 ;-- CL 1897, 8109 ;-- CL 1915, 10583 ;-- CL 1929, 10784 ;-- CL 1948, 457.623 ;-- Am. 1982, Act 107, Imd. Eff. Apr. 19, 1982