All bonds or other securities required and furnished under the provisions of this part shall be given to the Secretary as trustee for each and all of the producers in this State and shall be conditioned for the faithful performance by the handler of all the acts prescribed and all the conditions imposed upon the handler by this part, and for compliance by the handler of all the general laws of this State now in force or hereafter enacted and regulations pursuant thereto. (1965, No. 175, § 23; amended 2003, No. 42, § 2, eff. May 27, 2003.)