Sec. 4.
Such articles of association shall be filed with the secretary of state, and thereupon such association shall be a body politic and corporate by the name expressed in such articles of association, capable of taking, holding, and disposing of real and personal property, of suing and being sued, and of having a common seal which may be altered or changed at their pleasure: Provided, That the value of such real estate shall not exceed 10,000 dollars. Such corporation shall have full power to adopt a constitution, and to make and establish rules, regulations and by-laws for regulating and governing all the affairs and business of said corporation, and for the admission and expulsion of members, and to designate, elect or appoint from among the members of the societies forming and belonging to such corporation, such officers, and under such name and style, and with such duties as the constitution and by-laws of such corporation may from time to time prescribe. The constitution and by-laws of such corporation may be amended from time to time in such manner as may be provided by such corporation.
History: 1887, Act 42, Imd. Eff. Mar. 21, 1887 ;-- How. 3934m ;-- CL 1897, 7444 ;-- CL 1915, 9816 ;-- CL 1929, 10287 ;-- CL 1948, 454.104