(1) Before commencing an action, a plaintiff who is a nonresident of this state or a corporation other than a bank created by the laws of this state shall file in the clerk's office a bond, with sufficient surety and to be approved by the clerk, for the payment of all costs which may accrue in the action in the court in which it is brought or in any other court to which it may be carried, either to the defendant or to the officers of the courts.
(2) Instead of filing a bond, the plaintiff may deposit with the clerk of the court a sum of money sufficient to pay all costs that have accrued or will probably accrue in the action, subject to the sum's being increased at any time the court may deem necessary and by its order required.
(3) An action in which a bond for costs is required by subsection (a) of this section and has not been given shall be dismissed on the motion of the defendant at any time before the judgment, unless the bond is filed in a reasonable time to be allowed by the court after the motion is made therefor, securing all past and future costs. The action shall not be dismissed or abated if a bond for costs is given in such time as the court may allow.