Any existing corporations under the laws of the State of Mississippi organized for the same general purposes as the corporations provided for by this article may be chartered under this article by filing with the secretary of state a certificate, approved by a majority of the board of the corporation, signed by the duly authorized officer or officers thereof, and acknowledged by the subscribers before any officer authorized to take acknowledgments to deeds or other instruments. Such certificate shall set forth the information required under Section 77-5-207 for corporations organizing under this article, shall declare the intention of the corporation to operate under this article, and shall be filed in the office of the secretary of state, who shall forthwith cause this certificate to be handled in the manner prescribed in Section 77-5-211 for original certificates of incorporation. The corporation under its existing name shall thereupon have all the powers and duties set forth in this article, but shall relinquish the powers under its former charter. No debt or other obligation, of or to the corporation, incurred prior to reincorporation under this section, shall be affected thereby. Any act, contract, or covenant heretofore done, made, entered into or performed by any corporation organized under any other law but reincorporating hereunder, is hereby expressly validated if such act, contract, or covenant would have been valid if done, made, entered into or performed under the terms hereof.