Sec. 3.
A copy of said articles of association, together with a copy of the charter of the Grand Lodge of Kalevan Ritarit, shall be filed with the corporation and securities bureau of the department of commerce, and thereupon the persons who 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, estate, real, personal and mixed, of using and being used, and to have a common seal which may be altered or changed at their pleasure: Provided, That the value of such real, personal, and mixed estate shall not exceed the sum of $50,000.00. They and their successors shall have power and authority to give, grant, bargain, sell, lease, release, demise, and dispose of said real, personal, and mixed estate or any part thereof at their will and pleasure, and the proceeds, rents, gains, profits, and income shall be devoted to the protection and aid of its members and their families and to no other purpose.
History: 1909, Act 80, Eff. Sept. 1, 1909 ;-- CL 1915, 10635 ;-- CL 1929, 10834 ;-- CL 1948, 457.693 ;-- Am. 1982, Act 119, Imd. Eff. Apr. 19, 1982