165(1)The applicants for the incorporation of a mutual benefit society shall submit to the Superintendent the proposed constitution and by-laws of the society, which constitution and by-laws must be approved by the Superintendent, and when approved by him shall be incorporated in a membership book; the membership book shall also contain a memorandum of agreement whereby all subscribers thereto agree to become members of the society when incorporated and to abide by the constitution and by-laws of the society and all amendments, additions and alterations made thereto under the authority of this Part.