Whenever it shall appear that the penalty of the bond of the county administrator, as fixed, is not sufficient in amount to secure a faithful discharge of the duties of the office, it shall be the duty of the court or the chancellor, or the clerk in vacation, after five days' notice given, to require him to give an additional bond in such penalty as the chancellor or clerk may deem sufficient to secure the rights of all parties interested; and on noncompliance, he may be removed from office.