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All the assets, fixed and movable, personnel and records of the Davao Regional Institute of Fisheries Technology, as well as its liabilities or obligations, are hereby transferred to the College: Provided, however, That the positions, rights, and security of tenure of personnel employed therein under existing laws prior to absorption by the College are not impaired: Provided, further, That the incumbent holders of the various positions therein shall retain their status until otherwise provided for by the Board.
All parcels of land belonging to the government occupied by the Davao Regional Institute of Fisheries Technology are hereby declared to be the property of the Davao del Norte State College and shall be titled under the name of the College: Provided, That should the College cease to exist or be abolished or should such parcels of aforementioned lands be no longer needed by the College, the same shall revert to the Province of Davao.
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