(4)Where the security furnished by a dealer under sub-section (1) or subsection (2) is in the form of surety bond and the surety becomes insolvent or is other wise incapacitated or dies or withdraws, the dealer shall, within thirty days of the occurrence of any of the aforesaid events, inform the authority granting the certificate of registration and shall within ninety days of such occurrence furnish a rash surety bond or furnish in the prescribed manner other security for the amount of the bond.
