When the penal sum of any bond required to be given for the faithful
performance of the duties of any state, county or municipal officer of
the appointee or employee of such officer amounts to more than One
Thousand Dollars ($1,000.00) the sureties may become severally liable
for portions of not less than Five Hundred Dollars ($500.00) thereof,
making in the aggregate at least two sureties for the whole penal sum.
And if any such bond becomes forfeited, an action may be brought
thereon against all or any number of the obligors, and judgment
entered against them, either jointly or severally, as they may be
liable. The judgment must not be entered against a surety severally
bound for a greater sum than that for which he is specially liable by
the terms of the bond. Each surety is liable to contribution to his
co-sureties in proportion to the amount for which he is liable by the
terms of the bond.