On approval of the petition and report filed under Subtitle 2 of this title, the county commissioners or county council shall: establish a drainage association that is composed of the landowners; and name the organization the “_______ Public Drainage Association”. A drainage association created under this title is a political subdivision of the State and a body politic and corporate. A drainage association may: acquire, hold, and convey property; sue and be sued; adopt a seal; and exercise corporate powers.