At the time of the filing of the inventory provided for in Section 75-61-3, and before any such auction sale is commenced, the person, firm or corporation conducting said sale shall file with the said inventory, with the chancery clerk of the county where said sale is to be conducted, a bond in the penal sum of two thousand five hundred dollars ($2,500.00), to be approved by said chancery clerk, conditioned for the faithful compliance with the provisions of this article, and for the protection of any purchasers at said sale who may suffer loss because of misrepresentation or breach of warranty. Said bond shall be filed by said chancery clerk with said inventory, and shall be and remain a part of the public records of his office.
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