Section 69B in The M.P. Co-Operative Societies Act, 1960
69B. [ Reimbursement of Deposit Insurance Corporation in case of [insured bank or transferee bank.] [Inserted by M.P. Act No. 8 of 1970.]
- Where a co-operative Bank, being an [insured bank or transferee bank.] [Substituted 'Insured Bank' by Act No. 25 of 2016, dated 12.9.2016.] within the meaning of the Deposit Insurance Corporation Act, 1961 (No. 47 of 1961), is wound up, or taken into liquidation, and the Deposit Insurance Corporation has become liable to the depositors of the [insured bank or transferee bank.] [Substituted 'Insured Bank' by Act No. 25 of 2016, dated 12.9.2016.] under sub-section (1) of Section 16 of that Act, the Deposit Insurance Corporation shall be reimbursed in the circumstances, to the extent and in the manner provided in Section 21 of the Deposit Insurance Corporation Act, 1961 (No. 47 of 1961)].
