Any corporation formed in pursuance of this act may erect and own such suitable edifice, building, or hall, as to such corporation shall seem proper, with convenient rooms for the meetings of the lodges of the order of Knights of Pythias; and for that purpose may create a capital stock to be divided into shares of not more than 50 dollars each; and any such corporation may take, purchase, hold, and own such suitable lot or parcel of ground as may be convenient for the purpose of a cemetery, and may make all lawful rules and regulations for the disposition of lots, and the burial of the dead therein as to such corporation may seem proper: Provided, This act shall not be construed to affect municipal regulations in regard to cemeteries.