The members of the association in the Town of Havelock known as The Havelock Athenaeum, and all such other persons as shall hereafter become members of such association, shall be and they are hereby constituted a body corporate by the name of The Havelock Athenaeum, and by such name shall have perpetual succession and a common seal; and shall have power to make, revoke, and vary rules and regulations, for making breaking or altering its seal and for the custody thereof, for the time and mode of convening meetings and Committees, and for determining the number to be a quorum at any such meetings and who shall preside thereat, and also for the conduct of any business at such meetings, and for directing and appointing Committees of its members, and for giving the management of all or any part of its affairs to any such Committees, and for determining what contribution either annual or for life or otherwise shall constitute any person a member, and for requiring that persons desiring to be members shall first be approved by the body corporate or by a Committee thereof, and for providing that in certain cases of default or misconduct any person shall cease to be a member, and for providing in any other manner or respect whatsoever not inconsistent with the provisions of this Act for the management and regulation of the affairs, property, and concerns of the said corporate body; and the said corporate body shall have power to acquire, accept, and hold property real and personal.