Section 28I

In the conduct of the affairs of a registered society, the members of the Board of such registered society shall exercise the prudence and diligence of ordinary men of business and shall be jointly and severally liable for any loss sustained through failure to exercise such prudence and diligence or through any act which is contrary to the Act, the rules or the by-laws of such registered society or the direction of its general meeting.

Co-operative Societies

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