Said corporation may, under the direction of the grand lodge when assembled, make all by-laws for its government, the government of all constituent lodges under its jurisdiction, the government of all institutions owned, established or maintained by it, and for the transaction of all business of the corporation. Said corporation may acquire, hold, sell and convey any real or personal estate for its own use or for the use of any institution owned, established or maintained by it. It may own, establish and maintain a home or homes for members of the order of Free and Accepted Masons and their dependent relatives. It may take, hold and convey such other property, real or personal, as may be conveyed, devised or bequeathed to it in trust for any Masonic use, purpose, organization or institution. When authorized by the board of directors, all real and personal estate may be conveyed by deed or bill of sale in the name of the corporation, executed and acknowledged as the act and deed of the corporation by the grand master for the time being, or by such other person as the board of directors may appoint for that purpose, with the seal of the grand lodge attached, and such conveyance so executed shall be valid and binding for all intents and purposes whatsoever: Provided, however, That all property, real or personal, conveyed, devised or bequeathed to said corporation in trust for any Masonic use, purpose, organization or institution shall be held by said corporation and used by it in accordance with the terms of the instrument by which the same is conveyed, devised or bequeathed.