Section 59(1) in Mizoram Cooperative Societies Act, 2006
(1)The member of board of directors or management committee by virtue of holding the office of director of a co-operative, as and when acquires an opportunity of misusing properties and funds, which otherwise should have belonged to the co-operative for himself or his relatives including full blood and half blood relations shall be liable for all damages caused to the and must account for double the cost or profit which otherwise should have occurred to the co-operative by refunding the same provided that the said board of director shall be given a full and complete opportunity to defend his case before awarding such punishment.
