The institution incorporated by an act of the legislature, approved March 30, 1910, and established in pursuance thereof, shall continue to exist as a body-politic and corporate by the name of University of Southern Mississippi, with all its property and franchises, rights, powers and privileges conferred on it by law, or properly incident to such body and necessary to accomplish the purpose of its creation; said university may receive and hold all real estate and personal property conveyed or given it, and wherever the term of Mississippi Southern College appears in the laws of the State of Mississippi the same shall be construed to refer to the University of Southern Mississippi.