(a) Immediately after his or her election, the Auditor of State shall execute and deliver to the Governor a bond to the State of Arkansas, with good and sufficient securities, in the sum of one hundred thousand dollars ($100,000), conditioned for the faithful performance of all the duties required, or which may be required, of him or her by law.
(b) The Governor shall endorse on the bond of the Auditor of State his or her approval of the bond, stating the time of approval, and deliver the endorsed bond to the Secretary of State, who shall file it among the records of his or her office.
(c) If any Auditor of State shall neglect or refuse to enter into bond within ten (10) days after the Governor is officially informed of his or her election, then the Office of Auditor of State shall be deemed and considered vacant.