When an official bond does not contain the substantial matter or conditions required by law, or when there are any defects in the approval or filing thereof, such defects shall not discharge the officer and his sureties, and they are bound to the state, or party injured, according to the conditions and obligations required by law to be inserted therein. The state or the injured party may in an action upon the bond, suggest the defect in the bond, approval or filing, and recover the proper and equitable demand or damages from the officer and the persons who intended to become and were included as sureties in the bond.
A.R.S. § 38-262