A copy of said articles of association, together with a copy of the charter and constitution of said grand lodge, 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 such 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 $100,000.00 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 part thereof, at their will and pleasure, and the proceeds, rents and incomes shall be devoted exclusively to such charitable and benevolent purposes of the Loyal Orange Institution as shall best promote the welfare and the membership and the interests of the society, but such real and personal estate shall be subject to taxation for all purposes. Said corporation shall have the full power and authority to make and establish rules and regulations for the governing of 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 grand lodge.