Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-208. Distribution of assets upon liquidation

(a) First, the payment of costs and expenses of administration of the liquidation or dissolution,

(b) Second, the payment of claims which are given priority by applicable statutes and, if the assets are insufficient for the payment in full of all such claims in the order provided by such statutes, or, in the absence of contrary provisions, pro rata,

(c) Third, the payment of the balance as of the date of dissolution or liquidation in savings accounts of all types and of all other creditors except those creditors who have in writing subordinated their claims in favor of savings accounts. Said payments shall be pro rata to the amount owing said creditor and savings accounts on a basis pro rata to the balance in each account.

(d) Fourth, payment to creditors who have in writing subordinated their claims in favor of savings accounts.

(e) Fifth, any excess of assets shall be distributed to savings accounts on a basis pro rata to the balance in each account as of the date of liquidation or dissolution in the case of a mutual association. In a permanent reserve fund association, the excess of assets shall be distributed pro rata to the reserve fund stockholders.