Filing and Approval of Bonds: Register of Bonds

(a)Every bond required by virtue of this Article, shall be filed in the office of the Director of Administration who shall approve such bonds as to form and execution and as to the sufficiency of the sureties thereon.

(b)A proper register of such bonds shall be kept in the office of the Director of Administration, and a copy of the register furnished to the Territorial Auditor by the Director of Administration.