Whenever any official bond shall not contain the substantial matter, or condition or conditions, required by law, or there shall be any defect in the approval or filing thereof, such bond shall not be void so as to discharge such officer and the officers sureties, but they shall be bound to the State or party interested, and the State or such party may, by action instituted in any court of competent jurisdiction, suggest the defect of such bond, or such approval or filing, and recover the States or partys proper and equitable demand or damages from such officer, and the person or persons who intended to become and were included in such bond as sureties.
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