(215 ILCS 5/155.03) (from Ch. 73, par. 767.3)
Sec. 155.03.
Defense of ultra vires.
No company doing business in this State shall assert by way of defense
or otherwise, in any suit, action or claim arising directly or indirectly
out of the issuance or delivery of any policy or certificate of insurance,
that such company was without capacity or power to issue such policy or
certificate or that such policy or certificate is void, invalid or
unenforceable because of such lack of capacity, if the coverage under the
policy or certificate was afforded with the express knowledge or the
consent or acquiescence of the company.
(Source: Laws 1959, p. 1970.)
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