In cases of lost notes, bonds, life insurance policies, and other instruments which by law are negotiable or assignable when the party claiming under the same is required to execute a bond to indemnify the party issuing the same, it shall be lawful for such indemnity bond to be secured either by personal sureties or by corporations lawfully authorized to become sureties on such bonds; and the party demanding the execution of such bond shall accept same in either form.