Any historical or archaeological society in this Commonwealth shall be deemed to be a qualified historical or archaeological society if it:
(1) Has at least 100 paid members, has been organized at least two years and has been incorporated as a corporation not-for-profit.
(2) Holds at least one public meeting annually at which papers are read or discussions held on historical or archaeological subjects.
(3) Has adopted a constitution and bylaws and has elected proper officers to conduct its business.
(4) Has either established a museum or library in which books, documents, papers and other objects of historical and cultural interest are deposited or has made periodic publications totaling at least 25 pages each year relating to the history of this Commonwealth or of the area in which the society is located.