LawgistThe Multi-State Co-operative Societies Act
88Reimbursement to the Deposit Insurance Corporation by liquidator
Where a co-operative bank, being an insured bank within the meaning of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, is wound up and the Deposit Insurance Corporation has become liable to the depositors of the insured bank under sub-section (1) of section 16 of that Act, the Deposit Insurance Corporation shall be reimbursed by the liquidator or such other person in the circumstances, to the extent and in the manner provided in section 21 of that Act.
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WINDING UP OF MULTI-STATE CO-OPERATIVE SOCIETY
- 86 Winding up of multi-State co-operative societies
- 87 Winding up of co-operative bank at the direction of Reserve Bank
- 88 Reimbursement to the Deposit Insurance Corporation by liquidator
- 89 Liquidator
- 90 Powers of liquidator
- 91 Disposal of surplus assets
- 92 Priority of contributions assessed by liquidator
- 93 Power of Central Registrar to cancel registration of a multi-State co-operative society
