Every bonded warehouseman shall obtain a good and sufficient bond to the state of Kansas with other than personal sureties, in the penal sum of not less than $50,000. The bond shall be conditioned for the faithful performance of such warehouseman's duties as a warehouseman under the laws of this state and of such additional obligations as a warehouseman that may be assumed by such warehouseman under contract with any owner depositing goods with such warehouseman or with any purchaser or holder of warehouse receipts issued by such warehouseman.
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