A contract of insurance effectuated by a nonadmitted insurer in violation of the provisions of this article shall be voidable except at the instance of the insurer.
Source: L. 49: p. 467, § 1. CSA: C. 87, § 318. CRS 53: § 72-14-1. C.R.S. 1963: § 7213-1. L. 95: Entire section amended, p. 492, § 9, effective May 16.