The bond required by § 58-34-8 shall be in the penal sum of twenty–five thousand dollars, conditioned that the attorney will faithfully account for all moneys and other property of the insurer coming into his hands, and that he will not withdraw or appropriate to his own use from the funds of the insurer, any moneys or property to which he is not entitled.

Source: SL 1966, ch 111, ch 19, § 12 (2).