A copy of said articles of association, together with a copy of the constitution of said grand lodge, shall be filed with the secretary of state, and thereupon the persons who shall have signed such articles of association, and their associates, and successors shall be a body politic and corporate under the name of the grand lodge of the Independent Order of Philanthropists, of the state of Michigan, and by that name they and their associates 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 dollars, and that they, and their successors, shall have authority and power to give, grant, sell, lease, demise, and dispose of said real estate, or part thereof, at their will and pleasure, and the proceeds, rents, and incomes, shall be devoted exclusively to the charitable and benevolent purposes of the Independent Order of Philanthropists, of the state of Michigan. 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 customs of their order.