Section 1204. Oath and security

(a) A receiver, before entering upon his duties, shall:
    (1)  Take  and subscribe an oath that he will faithfully, honestly and
  impartially discharge the trust committed to him, and the oath shall  be
  filed  with  the  clerk  of  the  court  in  which the action or special
  proceeding is pending.
    (2) File with the clerk of such court a bond to the  people,  with  at
  least  two  sufficient  sureties  or  a bond executed by any fidelity or
  surety company  authorized  by  the  laws  of  this  state  to  transact
  business,  in  a  penalty fixed by the court appointing him, conditioned
  for the faithful discharge of his duties as receiver. The court  may  at
  any time direct a receiver to give a new bond with new sureties and with
  like condition.