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: � 72-13-1. L. 95: Entire section amended, p. 492, � 9, effective May 16.