If an Oregon stock bank becomes insolvent or goes into voluntary or involuntary liquidation, the assets of the Oregon stock bank must be applied in the following order of priority:
(1) First, if collateral has been pledged under ORS 295.015 and assets have been pledged under ORS 709.030, to the benefit of those for whom the collateral and assets have been pledged;
(2) Second, to pay the expenses of liquidation;
(3) Third, to satisfy the amount due the depositors; and
(4) Fourth, to satisfy the amount due sellers of federal funds.