Chained conditions in 'if' statement

When multiple conditionals are used in if statement only the first condition will be evaluated and used as the predicate.

if true && false
  echo NOK
end

# prints NOK

if false
  echo SKIPPED
else if true && false
  echo NOK
else
  echo OK
end

# prints NOK

Expected behavior:

Last exit status of expression following if decides whether the branch is executed or not.