Assets, Liabilities and Personnel.
Section 18
SEC. 18. Assets, Liabilities and Personnel. — All assets, real and personal, personnel and records of the Samar State Polytechnic College and the Wright Vocational School, 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 Samar State Polytechnic College and the Wright Vocational School, and ninety (90) hectares of land of the Valeriano C. Yancha Memorial Agricultural School (VCYMAS), are hereby transferred and 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 parcels of land be no longer needed by the University, the same shall be transferred to the municipality where these parcels of land are located.