Under Zambian law, company directors have several core statutory duties. The primary obligation is to act in good faith and in the best interest of the company while exercising the degree of care, diligence and skill reasonably expected of someone in that position [The Companies Act, S.215].
Directors must also take practical steps to manage business risks and prevent conduct that could cause substantial loss to members or creditors [The Companies Act, S.215]. This means directors cannot allow the company's business to be run in ways that create serious financial danger. For cooperative societies specifically, directors must approve or reject membership applications, appoint and manage staff (including defining their duties and pay), and regularly examine the condition of the business and property of the society [Co-operative Societies Act, S.48].
The Chairman of the board has additional responsibilities, including presiding over all society and board meetings, exercising general supervision over officers and business, calling meetings, presenting the directors' annual report to members, and presenting recommendations on distributing any net surplus [Co-operative Societies Act, S.51].
In summary, Zambian directors are legally required to act honestly, exercise proper care and skill, protect the company from serious financial risk, and oversee its day-to-day management according to law and company rules.