(1) The procedures for determinations of the validity and priority of claims and for liquidation of assets and return of the licensed financial institution or licensed financial holding company customers' property shall be determined by the Central Bank.
(2) Any sale of the licensed financial institution or licensed financial holding company assets shall be accomplished in a transparent and reasonable manner.
(3) Any right of a creditor other than a depositor to set off a debt owed by the creditor to the licensed financial institution or licensed financial holding company against a claim of a creditor may be asserted if it would be enforceable under applicable non-insolvency law, except to the extent that the claim of the creditor is disallowed or the set off is based on a transaction that has been avoided under section 147.
(4) If a depositor owes the licensed financial institution an amount for a matured or past-due loan, that amount shall be set off against the deposit amount owed by the licensed financial institution.
(5) If a depositor owes the licensed financial institution an amount for a loan and the loan is not matured or past-due, then, at the sole option of the depositor, the amount owed may be set-off against the deposit amount owed by the licensed financial institution.