# Idaho Code § 41-1402: 41-1402 PURPOSE OF LAW — INTERPRETATION

> Idaho · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1402

## Section

- **Citation:** Idaho Code § 41-1402
- **Heading:** 41-1402 PURPOSE OF LAW — INTERPRETATION
- **Jurisdiction:** Idaho
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Idaho Code / Title 41 / Chapter 14 / Section 41-1402

## Text

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.

History:

[41-1402, added 1961, ch. 330, sec. 307, p. 645; am. 1969, ch. 306, sec. 2, p. 917.]

## Nearby sections

- [Idaho Code § 41-1401 41-1401 SCOPE OF CHAPTER.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1401.md)
- [Idaho Code § 41-1402 41-1402 PURPOSE OF LAW — INTERPRETATION.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1402.md)
- [Idaho Code § 41-1405 41-1405 RATE STANDARDS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1405.md)
- [Idaho Code § 41-1415 41-1415 RATING ORGANIZATIONS — LICENSING.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1415.md)
- [Idaho Code § 41-1416 41-1416 PERIOD LICENSE EFFECTIVE — RENEWAL — FEE — SUSPENSION OR REVOCATION.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1416.md)
- [Idaho Code § 41-1417 41-1417 ADMISSION OF SUBSCRIBERS — SERVICES NONDISCRIMINATORY.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1417.md)
- [Idaho Code § 41-1420 41-1420 NOTICE OF RATING ORGANIZATION CHANGES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1420.md)
- [Idaho Code § 41-1421 41-1421 TECHNICAL SERVICES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1421.md)
- [Idaho Code § 41-1425 41-1425 ADVISORY ORGANIZATIONS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1425.md)
- [Idaho Code § 41-1426 41-1426 JOINT UNDERWRITING OR JOINT REINSURANCE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1426.md)
- [Idaho Code § 41-1427 41-1427 EXAMINATION OF INSURERS AND RATING, ADVISORY, JOINT UNDERWRITING, AND JOINT REINSURANCE ORGANIZATIONS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1427.md)
- [Idaho Code § 41-1428 41-1428 RECORDING AND REPORTING OF LOSS AND EXPENSE EXPERIENCE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1428.md)
- [Idaho Code § 41-1429 41-1429 INTERCHANGE OF DATA — CONSULTATION.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1429.md)
- [Idaho Code § 41-1430 41-1430 DISCLOSURE OF INFORMATION AND IMMUNITY.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1430.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C14_S41-1402. Check the current official text before relying on it. Not legal advice.