(2) In sufficient amount, form and with appropriate security, to protect the utility company against all losses and expenses which the utility company may suffer by reason of the delay in obtaining access, including, but not limited to, the posting of adequate security to cover all charges by the utility company which may accrue during the pendency of the hearing referred to in subsection 2 of this section. If such bond is provided to the court and approved by the court, the utility customer in default filing such bond shall be entitled to a hearing pursuant to subsection 2 of this section, which hearing shall be a hearing on the record under procedures applicable before circuit judges, and shall be held and decided within twenty days of the posting of the bond.