Beginning on the effective date of a merger under § 6-51-1101(a)(2):
(1) All property and other rights, claims, and assets of Crowley’s Ridge Technical Institute shall be transferred to East Arkansas Community College;
(2) All obligations of Crowley’s Ridge Technical Institute shall be obligations of East Arkansas Community College;
(3) Except as provided in subdivision (3)(B) of this section, all records, personnel, property, unexpended balances, and legal authority shall be transferred from Crowley’s Ridge Technical Institute to East Arkansas Community College.
(4) If applicable, the personnel transferred from Crowley's Ridge Technical Institute to East Arkansas Community College shall comply with Acts 2017, No. 94, § 1, as amended by this subchapter; and
(5) All cash fund balances of Crowley's Ridge Technical Institute transferred to East Arkansas Community College shall be used for the operation, support, and improvement of occupational, vocational, technical, and workforce development programs of East Arkansas Community College.