Step 1: Write the expression for angular momentum.
For circular motion, angular momentum is given by:
\[
L = mvr
\]
Step 2: Express velocity in terms of angular momentum.
\[
v = \frac{L}{mr}
\]
Step 3: Use centripetal force formula.
Centripetal force is:
\[
F = \frac{mv^2}{r}
\]
Step 4: Substitute the value of velocity.
\[
F = \frac{m}{r} \left(\frac{L}{mr}\right)^2
\]
\[
F = \frac{L^2}{mr^3}
\]
Step 5: Conclusion.
The centripetal force is given by \( \dfrac{L^2}{mr^3} \), hence option (C) is correct.