Section 18Sec./Art. 18

Assets, Liabilities and Personnel. - All assets, real and personal, personnel and records of the Panay State Polytechnic College, as well as liabilities or obligations, are hereby transferred to the University. The positions, rights and security of tenure of the personnel therein employed under existing laws shall be respected.

All parcels of land belonging to the government and occupied by the Panay State Polytechnic College are hereby declared to be the property of the University and shall be titled under that name: Provided, That should the University cease to exist or be abolished or such parcels of land aforementioned be no longer needed by the University, the same shall revert to the Province of Capiz.