Idaho § 28-41-102 PURPOSES — RULES OF CONSTRUCTION

Idaho Statutes

§ 28-41-102 — PURPOSES — RULES OF CONSTRUCTION

Idaho·Title 28 COMMERCIAL TRANSACTIONS·Part 1. SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS·Ch. 41 GENERAL PROVISIONS AND DEFINITIONS

(1)This act shall be liberally construed and applied to promote its underlying purposes and policies.

(2)The underlying purposes and policies of this act are:

(a)To simplify, clarify and modernize the law governing installment sales, credit, loans and usury;

(b)To further understanding of the terms of credit transactions and to foster competition among suppliers of credit so that debtors may obtain credit at reasonable cost;

(c)To protect debtors against unfair practices by some suppliers of credit, having due regard for the interests of legitimate and scrupulous creditors;

(d)To permit and encourage the development of fair and economically sound credit practices; and

(e)To conform the regulation of those credit transactions to the policies of the Federal Consumer Credit Protection

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(1) This act shall be liberally construed and applied to promote its underlying purposes and policies.
(2) The underlying purposes and policies of this act are:
(a) To simplify, clarify and modernize the law governing installment sales, credit, loans and usury;
(b) To further understanding of the terms of credit transactions and to foster competition among suppliers of credit so that debtors may obtain credit at reasonable cost;
(c) To protect debtors against unfair practices by some suppliers of credit, having due regard for the interests of legitimate and scrupulous creditors;
(d) To permit and encourage the development of fair and economically sound credit practices; and
(e) To conform the regulation of those credit transactions to the policies of the Federal Consumer Credit Protection Act, where applicable.
(3) A reference to a requirement imposed by this act includes reference to a related rule of the administrator adopted pursuant to this act.

Idaho § 28-41-102 (PURPOSES — RULES OF CONSTRUCTION) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.