457.265. Powers of corporation; property, holding, disposition.
Sec. 5.
Said corporation shall have a common seal and may change and alter the same at its pleasure; it may make, under direction of the grand chapter when assembled and established, all by-laws and rules for its government and the government of all subordinate chapters under the jurisdiction of the grand chapter relating to the business and property authorized to be done, held and conveyed by this act; it may take, hold and convey, as may be required from time to time, any real or personal estate for the purpose of its organization and not at any time, exceeding of personal estate, 250,000 dollars, and, of real estate, 500,000 dollars. It may also take, hold and convey such other property, in any amount of value, whether real or personal, as may be conveyed, devised or bequeathed to said corporation in trust for any use, purpose, organization or institution of said Order of the Eastern Star. All real and personal estate so held may be conveyed by deed or bill of sale in the name of the corporation executed by the worthy grand matron, worthy grand patron and grand secretary for the time being, and in case of real estate acknowledged by them respectively to be the act and deed of the corporation, or by such other person or persons as the board of directors may appoint for that purpose with the seal of said grand chapter attached and such conveyance so executed shall be valid and binding for all intents and purposes whatsoever: Provided, That all property, real or personal, conveyed, devised or bequeathed to said corporation in trust for any use, purpose, organization or institution of said Order of the Eastern Star shall be held by such corporation and used by it in accordance with the terms of the instrument by which the same is conveyed, devised, or bequeathed, or later modifying instrument executed by the original donors, their successors or assigns.
1917, Act 63, Eff. Aug. 10, 1917; CL 1929, 10632; CL 1948, 457.265
