Section 1. Conversion.— The Camarmes Norte State College (CNSC) in the Municipality of Daet, Province of Camarines Norte, is hereby converted into a state university to be known as the University of Camarines Norte (UCN), hereinafter referred to as the University. It shall establish regular campuses in the municipalities of Abano, Mercedes, Labo, Jose Panganiban, Etienza, and Sta. Elena, all in the Province of Camarines Norte. Its main campus shall be in the Municipality of Daet.