389Liabilities arising from administration

389 Liabilities arising from administration (1) If a co-operative incurs loss because of fraud, dishonesty, negligence or wilful failure to comply with this Law or the rules of the co-operative by an administrator, the administrator is liable for the loss. (2) An administrator is not liable for a loss that is not a loss to which subsection (1) applies but must account for the loss in a report given under section 387.