law: Co-Operative Societies Act 2008 
  87.
  
  Bonding
  The
  
  directors may require that every person appointed to an office who receives,
  
  manages or handles goods or merchandise or manages or handles the expenditure
  
  of money on behalf of the society shall give to the directors, before entering
  
  on his duties as an officer, security or a bond in the prescribed amount.