Liability of Municipal employees for misappropriation of funds

Liability of Municipal employees for misappropriation of funds.- Every employee of the Council shall be personally liable for the loss, waste, misapplication or misappropriation of any money or other property (held for the administration of the Council). If such loss or waste or misapplication or misappropriation is a direct consequence of the neglect or misconduct in his capacity as servant of the Council, and suit for compensation for the same may be institute against him, as if the money or the property had belonged to the State Government.