A bit off topic, but be careful of the term "lag bolt" or "lag screw". Technically, a "lag" is a large wood screw, with a hex head, a pointed tip, and coarse threads that bite into wood. This is in contrast to a machine screw (nut and bolt), where the threads pass cleanly through a slightly oversize hole and screw into a matching nut, usually with a washer. The terms are often used interchangeably, and the only time it really matters is if you are talking to someone - like a clerk at Home Depot - who means something different from what you are thinking.
As Dave points out, TM used lag bolts (wood screws) in this location, and if they have fallen out and the wood is solid, you can use another lag bolt to refasten. But if there is any wood failure (split, rot, stripped threads in the wood, etc) a lag bolt won't hold. In some cases, at least, you can refasten using a large machine screw with a matching nut above the wood member.
In another Forum thread (
Roofs hard to latch) Shane mentioned a T-nut, which is a captive version of a standard hex nut. If you are going to rebuild the base of that section of wall, I think the T-nut approach would be better than a lag.