(a) No bond of a personal representative shall be deemed sufficient unless it shall have been examined and approved by the court, or by the clerk, subject to confirmation by the court, and the approval is endorsed thereon.
(b) Before giving approval of a bond executed by personal sureties, the court or clerk shall require affidavits from the sureties that they collectively own property in this state subject to execution of a value over and above their liabilities and equal to the amount of the bond.
(c) In the event the bond is not approved, the personal representative, within such time as the court or the clerk may direct, shall secure a bond with satisfactory surety or sureties.