Sec. 2. When:
(1) a cause of action arose outside of Indiana against a nonresident defendant;
(2) the defendant does not maintain an agent in Indiana for service of process or other person who, under the laws of Indiana, could be served with process as agent for the defendant; and
(3) the cause is fully barred by the laws both of the place where the defendant resides and of the place where the cause of action arose;
the bar of the cause of action under subdivision (3) is a defense.