The bond required pursuant to Section 21733 is subject to the approval of the director and shall be conditioned as follows:

1. (a) That the person shall not sell any cattle unless he is the owner of the cattle or is authorized to sell them by the owner.
2. (b) That, if he does sell any cattle which he does not own without authorization from the owner, he shall, in addition to all other statutory penalties, pay the value of the animals.