Illinois Code § 5 ILCS 260/11

If a new bond is given by any officer, as provided in the
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foregoing Sections of this Act, then the former sureties shall be entirely
released and discharged from all liabilities incurred by such officer
in consequence of business which is discovered from and after the
time of the approval of the new bond, and the sureties to the new bond
are hereby declared to be liable for all the official delinquencies of the
officer, whether of omission or commission, which may occur after the
approval of the new bond as above stated; but the
provisions of this Act shall
not be so construed as to operate as a release of the sureties of any of
the above stated officers, for liabilities incurred
previous to the filing of
a new bond, as required in the foregoing Sections of this Act.

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