The surety shall give the principal at least five (5) days' notice of the application, at the expiration of which time, or in such time as the court or officer may allow, not exceeding ten (10) days thereafter, new bonds shall be given.
Code 1858, § 786 (deriv. Acts 1815, ch. 14, § 1); Shan., § 1107; Code 1932, § 1849; T.C.A. (orig. ed.), § 8-1944.