(1) The District Court of each county shall appoint a discreet, fit person to act as administrator of decedents' estates of which there is no personal representative, and as guardian of orphans who have no guardian.
(2) He shall serve at the discretion of the District Court.
(3) He shall be sworn and execute bond with good surety to the state for the faithful discharge of his duties, and when so sworn with bond so executed, shall be accepted by the court in every estate in which the public administrator is appointed without the necessity of additional surety.