§383-72  Priorities under legal dissolutionsor distributions.  In the event of any distribution of an employer's assetspursuant to an order of any court under the laws of this State, including anyreceivership, assignment for benefit of creditors, adjudicated insolvency,composition, or similar proceedings, contributions then or thereafter due shallbe paid in full prior to all other claims except taxes and claims for wages ofnot more than $300 to each claimant, earned within six months of the commencementof the proceeding.  In the event of an employer's adjudication in bankruptcy,judicially confirmed extension proposal, or composition, under the federalBankruptcy Act of 1898, as amended, contributions then or thereafter due shallbe entitled to such priority as is provided in section 64(a) of that Act (11U.S.C. sec. 104(a)), as amended. [L 1939, c 219, §9(f); RL 1945, §4268; am L1955, c 81, §1; RL 1955, §93-71; HRS §383-72]