A copy of said articles of association, together with a copy of the charter of said grand council shall be filed with the corporation and securities bureau of the department of commerce, and thereupon the persons who shall sign 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 estate 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 $50,000.00, and that they and their successors shall have the 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 the purposes of such association as mentioned and defined by the constitution thereof. Said association 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 association 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 styles as shall be in accordance with the constitution of the grand council.