Section 18Sec./Art. 18

Assets, Liabilities and Personnel. -All assets, real and personal, personnel and records of the ICNSF, as well as liabilities or obligations, are hereby transferred to the College:Provided,That 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:Provided, further,That the incumbents occupying the positions shall remain in the same status until otherwise provided for by the Board:Provided, finally,That the College shall also accordingly upgrade or increase its human resources component as may be deemed appropriate by the Board.

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