Section 445. Preference of credits

In case of the insolvency or voluntary
  or involuntary liquidation of any bank, trust  company  or  savings  and
  loan association, its assets shall be applied in the first place ratably
  and  proportionately  to the payment in full of any sum or sums of money
  deposited therewith by the savings and loan bank or due to  the  savings
  and  loan  bank for subscriptions, sinking funds, interest and principal
  of bonds, or guaranty of mortgages, notes secured or  unsecured  or  any
  other obligations due to the savings and loan bank, but not to an amount
  exceeding  that  authorized  to  be  so  deposited  or contracted by the
  provisions of this chapter, and in accordance and on  an  equality  with
  any other preference provided for in this chapter.