(a) The Secretary of Finance, before entering upon such office, shall, with sufficient sureties, become bound to the State, by a joint and several obligation to be, with the sureties therein, approved by the Governor, in the penal sum of $125,000, with condition according to the following form:

“The condition of the above written obligation is such, that if the above named ________ who is Secretary of Finance, shall well and truly account for all money which shall come to such person’s hands as such Secretary, or with which such person as such Secretary shall be legally chargeable, either for the default of any collector whom the Secretary shall appoint or otherwise, and shall and do well and diligently execute the office of Secretary of Finance as aforesaid, and duly and faithfully fulfill and perform all the trusts and duties to the said office appertaining, and also all the duties incumbent upon the Secretary, and if the said ________ or the Secretary’s executors or administrators, shall and do faithfully and without delay pay to the Secretary’s successor in office the just balances remaining of all the money which shall come to such person’s hands as Secretary of Finance, or with which such person as such Secretary shall be legally chargeable, after deducting all legal payments by the Secretary made and allowances made to the Secretary by law, and all legal fees, and shall also deliver to the Secretary’s successor in office all books, securities, muniments and papers to the said office belonging, safe and undefaced; then the said obligation shall be void, otherwise the same shall remain in full force.”

There shall be subjoined to the obligation a warrant of attorney to confess judgment thereon.

(b) The obligation shall be recorded by the Secretary of State in the Executive Register, and shall be kept on file in the Secretary’s office. A certified copy thereof shall be immediately transmitted to the Auditor of Accounts, and the copy, or the record, or a copy thereof, shall be evidence.

The obligation shall be proceeded upon by direction of the General Assembly, the Governor or Auditor of Accounts.

59 Del. Laws, c. 378, § 11; 70 Del. Laws, c. 186, § 1.