The bond of any officer or employee shall be executed with two or more sureties; provided, that where an accredited surety company executes any such bond only one surety shall be required, but no surety company shall be accepted as the sole surety on any bond, the penalty of which exceeds ten percent of the capital and surplus of the surety. In all cases the bond shall be executed in such a way and by such number of surety companies as will keep the total liability of each of the sureties within ten percent of the capital and surplus of each of such sureties.
(Prior code § 25-21)