2005 Idaho Code - 41-3301 — CONSTRUCTION AND PURPOSE

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 33
                            INSURERS SUPERVISION,
                        REHABILITATION AND LIQUIDATION
    41-3301.  CONSTRUCTION AND PURPOSE. (1) This act shall be cited as the
"Idaho Insurers Supervision, Rehabilitation, and Liquidation Act."
    (2)  This act shall not be interpreted to limit the powers granted the
director by other provisions of the law.
    (3)  This act shall be liberally construed to effect the purpose stated in
subsection (4) of this section.
    (4)  The purpose of this act is the protection of the interests of
insureds, claimants, creditors, and the public generally, with minimum
interference with the normal prerogatives of the owners and managers of
insurers through:
    (a)  Early detection of any potentially dangerous condition in an insurer,
    and prompt application of appropriate corrective measures;
    (b)  Improved methods for rehabilitating insurers, involving the
    cooperation and management expertise of the insurance industry;
    (c)  Enhanced efficiency and economy of liquidation, through clarification
    of the law, to minimize legal uncertainty and litigation;
    (d)  Equitable apportionment of any unavoidable loss;
    (e)  Lessening the problems of interstate rehabilitation and liquidation
    by facilitating cooperation between states in the liquidation process, and
    by extending the scope of personal jurisdiction over debtors of the
    insurer outside this state; and
    (f)  Regulation of the insurance business by the impact of the law
    relating to delinquency procedures and substantive rules on the entire
    insurance business.