27-20-203. Security to cover damages caused by appointment upon ex parte application. If a receiver is appointed upon an ex parte application, the court, before making the order, may require from the applicant an undertaking, with sufficient sureties, in an amount to be fixed by the court, to the effect that the applicant will pay to the defendant all damages the defendant may sustain by reason of the appointment of the receiver and the entry by the receiver upon the receiver’s duties, if the applicant procured the appointment wrongfully, maliciously, or without sufficient cause. The court may, at any time after the appointment, require an additional undertaking.