Section 5 in Bihar Inter University Board (Repeal) Act, 2007
5. Assets and liabilities.
- All the assets and properties of Bihar Inter University Board whether movable or immovable including lands, building, stores, vehicle, books, cash balance, reserve fund, investments, furnitures and others shall stand transferred and vested on, and be deemed to have come into the possession of the State Government and all the liabilities and obligations of the Board under any agreement or contract entered into bona fide before the commencement of this Act shall devolve and shall be deemed to have been devolved on the State Government.
