The collector shall give bond in favor of the governor of the state, or his successor in office, in the sum of seventy-five thousand dollars ($75,000.00), conditioned on the faithful performance of the duties imposed on him by this Sub-title. The premium on this bond shall be paid out of the appropriation made for the expenses of the department of revenue. The bond shall be approved by the governor, and shall be filed in the office of the state auditor.
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