Section 18Sec./Art. 18

Assets, Liabilities and Personnel. -All assets, real and personal, personnel and records of the Marinduque State College as well as liabilities or obligations, are hereby transferred to the University: Provided, That the positions, rights and security of tenure of the faculty members and personnel therein employed under existing laws prior to the conversion into a University shall be respected: Provided, further, That the incumbents of the positions shall remain in the same status until otherwise provided for by the Board: Provided, finally, That the University shall also include an upgrade or increase in its human resource component.

All parcels of land belonging to the government occupied by the Marinduque State College are hereby declared to be property of the University, and shall be titled under its name: Provided, That should the University cease to exist or be abolished or should such aforementioned parcels of land be no longer needed by the University, the same shall revert to the concerned LGU or to the Republic of the Philippines, as the case may be.