(A) Required; approval; amounts; place of filing.
(1) The Board of Trustees may require a bond of any officer or employee before entering upon the duties of his or her office where such a bond has not already been provided for in this code. The bond shall be conditioned for the faithful performance of the duties of his or her office and the payment of all money received by the officer and shall be payable to the village in such sums as may in the future be provided.
(2) Whenever any officer shall be appointed by the Board of Trustees to perform the duties of an additional office, his or her bond shall be rewritten so as to cover such additional duties as heretofore provided.
(3) All certificates of bonds shall be filed with, recorded and preserved by the Village Clerk, except the bond of the Village Clerk, which shall be filed with, recorded and preserved by the Village Treasurer, and the bond of the President which shall be filed with, recorded and preserved by the County Clerk.
(B) New bonds. In case any surety upon the bond of any officer shall withdraw, or in case any surety upon an official bond shall become insolvent, or if the Board of Trustees shall for any reason so request by resolution, a new bond may be required of such officer and, unless such new bond is given within ten days, the office shall be declared vacant. However, nothing herein shall be construed as releasing any surety before the new bond is given and approved, nor as releasing any default occurring before such new bond is given and approved.
(C) No officer to become surety for another. No member of the Board of Trustees and no person
holding any office in the village shall become surety on the official bond of any other officer of the village.
(Prior Code, § 31.05)