110. (1) The amount of any assessment or compensation for which an employer is liable shall constitute a privileged claim on all the moveable and immoveable property of such employer and of the principal contemplated by subsection 3 of section 11 of this act, ranking immediately after law costs without registration.
(2) When compensation is payable by periodical instalments, such instalments, for the purposes of this section, shall be converted by the Commission into a capital sum representing the instalments to become due.