Section 16Sec./Art. 16

All assets, fixed and movable, personnel and records of the Aklan State College of Agriculture, as well as liabilities or obligations, are hereby transferred to the University: Provided, however, That the positions, rights and security of tenure or personnel employed therein under existing laws prior to its conversion into a university are not impaired: Provided, further, That the incumbents of existing position shall remain in the same status until otherwise provided by the Board. All parcels of land belonging to the government and occupied by the Aklan State College of Agriculture and the ten hectares (10 has.)

Calangcang properties are hereby declared to be the property of the University and shall be titled under its name: Provided, finally, That should the University cease to exist or be abolished or should such parcels of land aforementioned be no longer needed by the University, the same shall revert to the Province of Aklan.