Section 26 in The Mizoram Aided College Employees Rules, 1990
26. Miscellaneous.
(1)The Governing Body may acquire, possess, hold or enjoy any property, movable or immovable, gift, exchange, or donation and may dispense of such property by way of sale, barter, gift, or exchange for and in the name of the college.(2)The Principal shall be responsible for the sale keeping and proper use of the college property, and for keeping of up to date stock registers for the different items of the college property.
