(b) Upon the filing with the board of a petition for appeal to the chancery court, it shall be the duty of the board, as promptly as possible, and in any event within sixty (60) days after approval of the appeal bond, to file with the clerk of the chancery court to which the appeal is taken, a copy of the petition for appeal and of the rule, regulation or order appealed from, and the original and one (1) copy of the transcript of the record of proceedings in evidence before the board. After the filing of said petition, the appeal shall be perfected by the filing with the clerk of the chancery court to which the appeal is taken of bond in the sum of Five Hundred Dollars ($500.00) with two (2) sureties or with a surety company qualified to do business in Mississippi as the surety, conditioned to pay the cost of such appeal; said bond to be approved by any member of the board or by the supervisor, or by the clerk of the court to which such appeal is taken. The perfection of an appeal shall not stay or suspend the operation of any rule, regulation or order of the board, but the judge of the chancery court to which the appeal is taken may award a writ of supersedeas to any rule, regulation or order of the board after five (5) days' notice to the board and after hearing. Any order or judgment staying the operation of any rule, regulation or order of the board shall contain a specific finding, based upon evidence submitted to the chancery judge and identified by reference thereto, that great or irreparable damage would result to the appellant if he is denied relief, and the stay shall not become effective until a supersedeas bond shall have been executed and filed with and approved by the clerk of the court or the chancery judge, payable to the state. The bond shall be in an amount fixed by the chancery judge and conditioned as said chancery judge may direct in the order granting the supersedeas. Appeals of rules, regulations or orders of the board pending in the circuit court prior to July 1, 1988, shall proceed in the circuit court having jurisdiction under the appropriate statutes and rules applicable to such cases in the circuit courts. Appeals of rules, regulations or orders of the board on or after July 1, 1988, shall be perfected in the appropriate chancery court and shall proceed under the statutes and rules applicable to such cases in the chancery courts.