27-16-204. Plaintiff's undertaking. Before making the order, the judge shall require a written undertaking on the part of the plaintiff, with at least two sufficient sureties, to the effect that, if the defendant recovers judgment or if the court finally decides that the plaintiff was not entitled to an order of arrest, the plaintiff will pay all costs and charges that may be awarded to the defendant and all damages that the defendant may sustain by reason of the arrest, if the arrest is wrongful or without sufficient cause, not exceeding the sum specified in the undertaking, which must be at least $500.