Section 7. Whoever recognizes as surety for another as provided in this chapter may at any time before breach of the recognizance surrender his principal and exonerate himself from further liability, in the manner provided for surrender by bail, and all proceedings on such surrender shall be the same as provided in the case of bail. If a debtor arrested on execution is surrendered by his surety, he may recognize anew for his appearance at the time, place and upon the conditions expressed in the former recognizance.