The adjutant general, acting under the direction of the governor as commander-in-chief of the militia, is hereby authorized to organize and establish a ceremonial military organization to be designated the First Light Battery, New Hampshire Volunteers, said organization to be deemed, for the purposes hereof, to be the lineal successor of the military organization of the same designation which served with honor and distinction in the Civil War. Upon establishment, such organization shall be a corporation, and as such shall have perpetual existence, the authority to hold property, real and personal, and such other powers as are set forth hereinafter.