No common carrier, authorized to do business in this state, when requiring of any employee that he give it a bond or undertaking of any nature, whatsoever, shall require as surety thereon any companies, corporations, associations or firms not a resident of this state. No such common carrier shall accept as such surety any company, corporation or association, unless the same is a corporation duly organized under the laws of Mississippi or which shall have designated an agent residing within this state upon whom service of legal process against it may be made, as provided for foreign corporations doing business in this state, and shall also require that every such bond or undertaking shall be approved, and cancelled, if cancelled, by said agent with whom a complete record thereof shall be kept.
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