Those town officers who handle town money shall be bonded within ten days of election to office. The bond, for the benefit of the town, its successors and assigns, shall be conditioned upon faithful discharge of the duties of office. It shall be written in an amount approved by the Council Committee on Ways and Means, with a surety company licensed to do business in South Carolina, and the premium therefor shall be paid by the town.
(Prior Code, § 2-35)