B.__Whenever there is a recommendation of dissolution pursuant to paragraph A, the board of directors shall provide the superintendent with a plan of dissolution.__The plan of dissolution must set forth the method and schedule for terminating the business of the credit union and may provide for a restriction on withdrawal of shares or withdrawal of share certificates.__Before the 2nd membership vote required in paragraph A may be taken, the board must receive the superintendent's approval of the plan of dissolution.

C.__The superintendent may approve the dissolution of a credit union recommended by a majority of the entire board of directors but approved by less than a majority of all members if the superintendent finds, upon the written and verified application of the board, that:

(1)__The board mailed written notice of the meeting to consider dissolution to all members qualified to vote;

(2)__The notice disclosed the purpose of the meeting and that approval of dissolution might be sought pursuant to this paragraph;

(3)__A majority of the votes cast by the members were in favor of dissolution; and

(4)__The board has an acceptable plan of dissolution.

D.__If the superintendent approves dissolution, either by vote of the board or vote of the members, the credit union shall immediately cease to do business, except for the express purposes of liquidation including the discharging of debts, collecting on loans, distributing__assets and every other act necessary to wind up and liquidate the business.__ It may sue and be sued for the purpose of enforcing such debts and obligations until its affairs are fully adjusted.

E.__The board of directors shall use the assets of the credit union to pay claims in the following order: