In lieu of the liability insurance provided for in Section 832.07, any applicant may furnish an indemnity bond with a minimum of one hundred thousand dollars ($100,000) protection for the losses provided for in Section 832.07 or may provide a bond with two persons as sureties providing for a minimum of one hundred thousand dollars ($100,000) protection against losses mentioned in Section 832.07. However, if a personal surety bond is furnished, each of the two persons entering upon such obligation shall furnish proof to the Safety-Service Director that he or she has a minimum personal net worth of one hundred thousand dollars ($100,000) over and above all encumbrances and legal exemptions.