Section 18Sec./Art. 18

Assets, Liabilities and Personnel. - All assets, real and personal, personnel and records of the WVCST, the Purificacion D. Monfort College, the Leon National College of Agriculture, the Don Jose Sustiguer Monfort Memorial National College and the Southern Iloilo Polytechnic College, as well as liabilities or obligations, are hereby transferred to the University.

The positions, rights and security of tenure of faculty members and personnel therein employed under existing laws prior to its conversion into a University shall be respected.

All parcels of land belonging to the government and occupied by the WVCST, the Purificacion D. Monfort College, the Leon National College of Agriculture, the Don Jose Sustiguer Monfort Memorial National College and the Southern Iloilo Polytechnic College, are hereby declared to be property of the University, and shall be titled under that name: Provided, That should the University cease to exist or be abolished or should such parcels of land aforementioned be no longer needed by the University, the same shall revert to the LGU's concerned.