Lien on assets of officer dying, etc

(1) If any person appointed to any office in a friendly society and being entrusted with the keeping of accounts or having in his possession by virtue of his office any moneys, effects, deeds or securities belonging or relating to the society, (a) dies; (b) becomes insolvent; (c) is adjudged bankrupt; (d) has any execution, attachment or other process issued against his land, goods, chattels or effects; or (e) makes any assignment, disposition or other conveyance for the benefit of his creditors, his executors, administrators, or assigns or other person having legal right or the Marshal, Public Trustee, or other officer executing such process shall within forty days after a written demand has been made by the trustees or by three or more of the management committee, deliver and pay over all moneys 21 and other things belonging to the friendly society to such person as the trustees or committee appoints. (2) The person appointed under subsection (1) of this section, shall pay out of the estate, assets or effects of such officer all sums of money remaining due which such officer has received by virtue of his said office or employment before any other of his debts are paid or satisfied, or before the other money directed to be levied by such process as aforesaid is paid over to the party issuing such process, and all such assets, lands, goods, chattels, property, estates and effects shall be bound to the payment and discharge thereof accordingly.