(1) Any nonresident individual, partnership, association, firm, or corporation desiring to distribute, sell, or offer for sale within this state any product described in this chapter, and any such nonresident who may be subject otherwise to the provisions of such chapter, shall file a written power of attorney designating the Secretary of State as the agent of such nonresident upon whom service of process may be had in the event of any suit against said nonresident individual, partnership, firm, association, or corporation; and such power of attorney shall be so prepared in such form as to render effective the jurisdiction of the courts of Mississippi over such nonresident applicants and make such applicants amenable to the jurisdiction of the courts of this state. Provided, however, that any such nonresident who has a duly appointed resident agent upon whom process may be served as provided by law shall not be required to designate the Secretary of State as such agent. The Secretary of State shall be allowed such fees therefor as provided by law for designating resident agents. The commissioner shall be furnished with a copy of such designation of the Secretary of State or of a resident agent, such copy to be duly certified by the Secretary of State.

(2) The commissioner may also require such nonresident subject to the provisions of this chapter to furnish to him a fidelity bond or other security satisfactory to him and conditioned that the principal therein named shall pay for any and all damages suffered by any person by reason of the negligence of the principal or his or its agents in the conduct of said business and shall honestly conduct said business and as otherwise conditioned by said commissioner, provided that in no case shall a bond or other security less than Ten Thousand Dollars ($10,000.00) be required. A copy of said bond duly certified by the commissioner shall be received as evidence in all courts of this state without further proof. Any person having a right of action against such person, firm, association or corporation may bring suit against the principal and sureties on such bond. Should the surety furnished become unsatisfactory, said applicant shall execute a new bond and should he fail to do so, it shall be the duty of the commissioner to cancel his license and give him notice of said fact, and it shall be unlawful thereafter for such person to engage in said business without obtaining a new license.