Property vested in the
State under section 148(1)(a) —
(a) is
to be administered in the Department by the Commissioner acting on behalf of,
and in the name of, the State; and
(b) is
subject to any charge, claim or liability imposed by law on or affecting that
property to which the property would have been subject had the property
continued to be held by the incorporated association by which it was held
immediately before it vested in the State.