7-35-2139. Bond requirements for trustees of fund. (1) Before exercising or having any of the powers, duties, rights, titles, authorities, or franchises appertaining to the trust or trusteeship, each person chosen to be a trustee of the fund shall give to the public cemetery district for which the trust is maintained a bond in a sum equaling at least 1 1/3 times the value of the property on hand at the time of giving the bond, with good and sufficient sureties who shall justify in the aggregate in at least double the amount of the bond. The bond must be conditioned for the due and faithful performance of the trust until July 1 of the next even-numbered year after the year in which the bond is given and until the trustee gives a new bond as provided in this section.

(2) On July 1 in each even-numbered year, each trustee shall give a new bond conditioned, in an amount, and with sureties as provided in subsection (1).

(3) The bonds must be approved by a judge of the district court for the judicial district in which the cemetery for the trust exists or some part of the trust is situated and must be filed with the clerk of the district court of the county in which the cemetery is located.