Sec 7-101. Execution of bond; sureties

When a bond or undertaking is required by law to be given for the faithful performance of a duty or obligation, or required to be given in a judicial proceeding in a court of this state, the bond shall, unless otherwise specified by the law requiring it, be executed by the principal and at least two sureties. The sureties shall be residents and freeholders or householders within this state and, unless acting as surety for state officers, of the county in which the bond is given. Each surety shall justify by affidavit stating that he is worth the amount specified in the bond over and above his just debts and liabilities, exclusive of property exempt from execution.