(a) At any time after the expiration of the term of office of any state or county officer in this State who is required to give bond or other obligation with surety for the faithful performance of duties as such officer, such officer may present a petition to the Superior Court of the particular county in which the bond or other obligation is filed or recorded in such form as shall be prescribed by the Court, stating all of the facts proper and necessary to lay before the Court and the reasons for asking that the bond or other obligation theretofore entered into by such officer should be cancelled and satisfied of record.
(b) Before any hearing shall be had upon the petition, the petitioner shall cause a copy of the petition to be published in 1 or more newspapers published in the county at least once a week for 3 successive weeks, and in addition thereto the Court may require such additional notice of the filing of the petition as it deems advisable.
(c) Upon the presentation of any such petition, by such officer, as stated in subsection (a) of this section, to the Superior Court of the particular county in which the bond or obligation is filed or recorded, the Court shall inquire into all the facts and circumstances of the particular case, and, if satisfied from the evidence presented that the officer has performed all of the duties lawfully required of the officer and has properly accounted for all moneys or other property or things of value coming into the officer's hands as such officer and there are no reasons why the bond or other official obligation of such officer should not be cancelled and satisfied of record, then the Court may make an order that the bond or other official obligations of such officer be cancelled and that the recorder of deeds of the county where the bond or other official obligation is recorded shall mark the same satisfied of record.