A surety on any bond of an executor, administrator, county administrator, or any other administrator apprehending danger of loss because of his suretyship may petition the court, chancellor, or clerk to require the executor or administrator to give a new bond and that he may be discharged from further liability. The court, chancellor, or clerk, on five days’ notice to the executor or administrator, shall grant such petition and require a new bond, within a reasonable time, to be prescribed. In case of refusal or failure to give such new bond, the executor or administrator shall be removed and administration de bonis non granted. The acts done by the executor or administrator, and all proceedings that may have been instituted against him, shall be treated and conducted by or against his successor, as in case of the death of an executor or administrator. If the executor or administrator shall give new bond as required, the original bond shall from that time cease to be operative in future, but not as to previous liabilities; and the effect of such new bond shall be to bind the obligors therein for past as well as future liabilities.
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