If at any time the sureties or any of them shall become irresponsible, the licensee shall, upon receipt of notice from the Labor Commissioner, give a new bond, subject to the provisions of NRS 611.070 and 611.080. The failure to give a new bond within 10 days after such notice operates as a revocation of the license. The license shall thereupon be returned to the Labor Commissioner, who shall destroy the license.