If, at any time pending an appeal in any action, suit, or other proceeding, it appears to the appellate court that the appeal bond or undertaking is defective or insufficient or that any surety thereon has died, or has removed or is about to remove from this state, or has become or is likely to become insolvent, such appellate court shall order another appeal bond or undertaking, or such other and further security as to the appellate court seems proper, if the appellant or his attorney of record has been served with at least twenty-four hours' written notice of an application of the appellee for such order. If the appellant fails to comply with said order within ten days after the making of the same, the appeal shall be dismissed.
Source: L. 19: p. 113, § 1. C.L. § 5623. CSA: C. 46, § 14. CRS 53: § 37-1-11. C.R.S. 1963: § 37-1-11. L. 87: Entire section amended, p. 1575, § 11, effective July 10.