(A) A surety bond shall be required to cover cost of any recount or new election resulting from or directly related to the use or malfunction of equipment.
(B) The amount of the bond shall be determined by the secretary of state. Such amount shall be based on the following considerations:
(1) Whether the equipment has been approved for only experimental or conditional usage;
(2) The potential for malfunction and the estimated repair time;
(3) Recommendations of the board of voting machine examiners.
(C) The bond shall be filed with the board of county commissioners.