Insurance contracts procured as surplus line coverage from nonadmitted insurers in accordance with this article shall be fully valid and enforceable as to all parties and shall be given recognition in all matters and respects to the same effect as like contracts issued by admitted insurers.
Source: L. 49: p. 468, § 4. CSA: C. 87, § 321. CRS 53: § 72-14-4. C.R.S. 1963: § 72-13-4. L. 95: Entire section amended, p. 492, § 12, effective May 16.