§431:16-203 Coverage and limitations. (a) This part shall provide coverage for the policies and contracts specified in subsection (b) to:
(c) The benefits for which the association may become liable shall in no event exceed the lesser of:
(d) In no event shall the association be obligated to cover more than:
(e) The limitations set forth in this section are limitations on the benefits for which the association is obligated before taking into account its subrogation and assignment rights or the extent to which those benefits could be provided out of the assets of the impaired or insolvent insurer attributable to covered policies. The costs of the association's obligations under this part may be met by the use of assets attributable to covered policies or reimbursed to the association pursuant to its subrogation and assignment rights.
(f) In performing its obligations to provide coverage under section 431:16-208, the association shall not be required to guarantee, assume, reinsure, or perform, or cause to be guaranteed, assumed, reinsured, or performed, the contractual obligations of the insolvent or impaired insurer under a covered policy or contract that do not materially affect the economic values or economic benefits of the covered policy or contract. [L 1987, c 347, pt of §2; am L 2002, c 155, §92; am L 2003, c 212, §113; am L 2012, c 250, §4]