In lieu of depositing the amount claimed in cash as provided by section 2A:44-4 of this title, a bond in double the amount claimed and double the amount required to be deposited as costs, may be filed with the clerk of the court. It shall have sufficient surety, and be approved in the manner in which similar bonds are now approved in the court from which process is to issue.

The bond shall be in such form as the court shall prescribe.

L.1951 (1st SS), c.344.