Section 18Sec./Art. 18

Assets, Liabilities and Personnel. All assets, real and personal, personnel and records of the Carlos Hilado Memorial State 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 the conversion into a University shall be respected.

All parcels of land belonging to the government occupied by the. Carlos Hilado Memorial State College and all its campuses, are hereby declared to be the 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 LGUs concerned.