When the penal sum of any bond required to be given amounts to more than one thousand dollars ($1,000), the sureties may become severally liable for portions of not less than five hundred dollars ($500) thereof, making in the aggregate at least two (2) sureties for the whole penal sum; and if any such bond becomes forfeited, an action may be brought thereon against all or any number of the obligors, and judgment entered against them, either jointly or severally, as they may be liable. The judgment must not be entered against a surety severally bonded for a greater sum than that for which he is specially liable by the terms of the bond. Each surety is liable to contribution to his cosureties in proportion to the amount for which he is liable.