Bail may be substituted, without additional premium being charged, by the defendant or bondsman, at any time before a breach of the undertaking, by substituting any other proper and sufficient bond of like value as provided herein. The official taking the new bail shall make an order as follows:
1. Where money had been deposited, that the money be refunded to the person depositing the same; and
2. Where property had been pledged, that a certificate of discharge be issued and the lien previously filed be released .
The original undertakings of whatever nature shall be canceled and the new undertaking shall be substituted therefor.
Laws 1965, c. 184, § 25, eff. Jan. 1, 1966; Laws 1993, c. 170, § 5, eff. Sept. 1, 1993.