Section 120 in Mizoram Cooperative Societies Act, 2006
120. Interpretation.
(1)The co-operative bank, for the purpose of this chapter means a co-operative bank registered under anyone of the following Acts.(a)The Credit Co-operative Societies Act, 1912;(b)The Co-operative Societies Act, 1912;(c)The Multi Unit Co-operative Societies Act, 1942;(d)Assam Co-operative Societies Act, 1949;(e)The Multi State Co-operative Societies Act, 1984 or 2002;(f)The Mizoram Co-operative Societies Act, 1991;(g)any other co-operative societies Act.(2)A bank which obtained a license from Reserve Bank of India for the purpose of carrying out the business of banking defined under S.5 (b) of the Bank Wing Regulation Act 1949.(3)A bank registered as an insured bank with deposit Insurance Corporation created under Deposit Insurance and Credit Guarantee Corporation Act, 1969.Explanation. - A bank in order to be called a co-operative bank under sub-section (3) must fulfill the requirements stipulated under sub-section (I) and (2)
