Receipt of gifts and bequests by institutions

Every institution founded under this chapter shall be competent to receive by purchase or gift further property, provided the aggregate of all real property held by such institution shall not exceed the amount necessary to the fulfillment of the objects and purposes of such institution. Such institution shall be competent to receive by bequest further property provided such bequest is not in violation of sections two hundred and sixty-nine, and two hundred and seventy of the constitution of Mississippi. The property so received shall be devoted exclusively to the purposes of such institution.