(1)__May collect money due to the credit union and do all acts necessary to conserve its assets and business and shall proceed to liquidate its affairs;

(2)__Shall collect all debts due and claims belonging to the credit union and may sell or compound all bad or doubtful debts;

(3)__May sell, for cash or other consideration or as provided by law, all or any part of the real and personal property of the credit union;

(4)__May take, in the name of the credit union, a mortgage on the real property from a bona fide purchaser to secure the whole or part of the purchase price;

(5)__May borrow money and issue evidence of indebtedness for the money.__To secure the repayment of the indebtedness, the receiver may mortgage, pledge, transfer in trust or hypothecate any or all of the property of the credit union, whether real, personal or mixed, superior to any charge for expenses of liquidation; and

(6)__May represent the credit union in lawsuits under the receiver's own name as receiver of the credit union.

F.__The receiver shall use the assets of the credit union to pay claims in the following order:

(1)__Claimants whose claims are secured must receive their security.__To the extent their respective claims exceed the value of the security for those claims, as determined to the satisfaction of the receiver, they each have an unsecured claim against the credit union having priority as provided in subparagraph (2); and

(2)__Unsecured claims against the liquidation estate that are proved to the satisfaction of the receiver have priority in the following order:

(a)__Administrative costs and expenses of liquidation;