Whenever any chancellor in any manner determines that the bonds of any clerk and master of any court within the chancellor’s judicial district are, from any cause, insufficient, the chancellor shall forthwith make a record of the fact on the minutes of the court, and order the clerk and master, within thirty (30) days from that date, to make the clerk and master’s bonds sufficient by executing new bonds or giving additional security, and complying with any order of the chancellor in regard to the bonds.