In liquidating a bank the director or receiver may exercise any power thereof but he may not, without the approval of the circuit court:
(1) Sell any asset of the bank having an appraised value in excess of five thousand dollars;
(2) Compromise or release any claim which exceeds five thousand dollars, exclusive of interest; or
(3) Make any payment on any claim, other than a claim upon an obligation incurred by the director or receiver, before preparing and filing a schedule of his determinations in accordance with subdivision 51A-15-36 (3).