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         Any three or more persons of full age, citizens of the United States, a majority of whom shall be citizens of this State, who desire to associate themselves for benevolent, charitable, scientific, religious or missionary purposes, may make, sign and acknowledge, before any officer authorized to take the acknowledgments of deeds in this State, and have recorded in the office of the Recorder of the county in which the business of such society is to be conducted, a certificate in writing, in which shall be stated the name or title by which such society shall be known, the particular business and objects of such society, the number of Trustees, Directors or Managers of such society for the first year of its existence.

          Upon filing for record the certificate, as aforesaid, the persons who shall have signed and acknowledged such certificate, and their associates and successors, shall, by virtue hereof, be a body politc and corporate by the name stated in such certificate, and by that they and their successors shall and may have succession, and shall be persons capable of suing and being sued, and may have and use a common seal, which they may alter or change at pleasure; and they and their successors, by their corporate name, shall be capable of taking, receiving, purchasing and holding real and personal estate, and of making by-laws for the management of its affairs, not inconsistent with law.

          The society so incorporated may, annually or oftener, elect from its members is Trustees, Directors or Managers at such time and place, and in such manner as may be specified in its by-laws, who shall have the control and management of the affairs and funds of the society, a majority of whom shall be a quorum for the transaction of business, and whenever any vacancy shall happen among such Trustees, Directors or Managers, by death, resignation or neglect to serve, such vacancy shall be filled in such manner as shall be provided by the by-laws of such society. When the body corporate consists of the Trustees, Directors or Managers of any benevolent, charitable, literary, scientific, religious or missionary institution, which is or may be established in the State, and which or may be under the patronage, control, direction or supervision of any synod, conference, association or other ecclesiastical bodies in such State established agreeable to the laws thereof, such an ecclesiastical body may nominate and appoint such Trustees, director or Managers according to the usages of the appointing body and may fill any vacancy which may occur among such Trustees, Directors or Managers and when any such institution maybe under the patronage, control, direction or supervision of or two or more of such synods, conferences, associations or other ecclesiastical bodies, such bodies may severally nominate and appoint such proportion of such Trustees, Directors or Managers as shall be agreed upon by those bodies immediately concerned. And any vacancy occurring among such appointees last named, shall be filled by the synod, conference, association or body having appointed the last incumbent.

         In the case any election of Trustees, Directors or Managers shall not be made on the day designated by the by-laws, said society for that cause shall not be dissolved, but such election may take place on any other day directed by such by-laws.

          Any corporation formed under this chapter shall be capable of taking, holding or receiving property by virtue of any devise or bequest contained in any last will or testament of any person whatsoever; but no person leaving a wife, . . .

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. . . child, or parent, shall devise or bequeath to such institution or corporation more than one-fourth of his estate after the payment of his debts, and such device or bequest shall be valid only to the extent of such one-fourth.

          Any corporation in this State of an academical character, the memberships of which shall consist of lay members and pastors of churches, delegates to any synod, conference or council holding its annual meetings alternately in this and one or more adjoining States, may hold its annual meetings for the election officers and the transaction of business in any adjoining State to this, at such place therein as the said synod, conference or council shall hold its annual meetings; and the elections so held and business so transacted shall be as legal and binding as if held and transacted at the place of business of the corporation is this State.

          The provisions of this chapter shall not extend or apply to any association or individual who shall, in the certificate filed with the Recorder, use or specify a name or style the same as that of any previously existing incorporated society in the county.

          The Trustees, Directors or stockholders of any existing benevolent, charitable, scientific, missionary or religious corporation, may, by conforming to the requirements of Section 1095 of this chapter, re-incorporate themselves or continue their existing corporate powers, and all the property and effects of such existing corporation shall vest in and belong to the corporation so re-incorporated or continued.