Section 7Sec./Art. 7

Assets, Liabilities and Personnel. - All assets, fixed and movable, personnel, records and documents of the Kabasalan Institute of Technology as well as its liabilities or obligations shall be transferred to the Institute: Provided, That the positions, rights and security of tenure of faculty and personnel therein employed pursuant to existing laws prior to its conversion into the Institute shall not be impaired.

All parcels of land belonging to the government occupied by the Kabasalan Institute of Technology are hereby declared property of the Zamboanga Sibugay Polytechnic Institute and shall be titled under that name: Provided, That, should the Institute cease to exist or such aforementioned parcels of land be no longer needed by the Institute, the same shall revert to the local government unit (LGU) concerned, or to the Municipality of Kabasalan, Province of Zamboanga Sibugay.