Idaho § 41-1402 - Purpose of law - Interpretation
Full text of Idaho Idaho Statutes § 41-1402 — Purpose of law - Interpretation, with citation guidance and answers to common questions.
§ 41-1402. Purpose of law - Interpretation
(1) The purpose of this chapter is to promote the public welfare by regulating insurance rates as herein provided to the end that they shall not be excessive, inadequate or unfairly discriminatory, and to authorize and regulate cooperative action among insurers in rate making and in other matters within the scope of this chapter.
(2) It is the express intent of this chapter to permit and encourage competition between insurers on a sound financial basis, and nothing in this chapter is intended to give the director power to fix and determine a rate level by classification or otherwise.
(3) This chapter shall be liberally interpreted to carry into effect the provisions of this section.
[41-1402, added 1961, ch. 330, sec. 307, p. 645; am. 1969, ch. 306, sec. 2, p. 917.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 41-1402
What does Idaho Statutes § 41-1402 cover?
Section 41-1402 ("Purpose of law - Interpretation") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 41-1402?
A common citation format is "Idaho Statutes § 41-1402" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 41-1402 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.