If the association has provided benefits with respect to a covered obligation and a person recovers amounts as to which the association has rights as described in this subsection, the person shall pay to the association the portion of the recovery attributable to the policies or portion thereof covered by the association.

10. Association's contractual obligation; impaired insurer. The contractual obligations of the impaired insurer for which the association becomes or may become liable shall be as great as but not greater than the contractual obligations of the impaired insurer would have been in the absence of the impairment. In no event may the aggregate liability of the association exceed $100,000 in cash values, or $300,000 for all benefits, including cash values, with respect to any one life.

11. Other powers. The association may:

A. Enter into such contracts as are necessary or proper to carry out the provisions and purposes of this chapter;

B. Sue Subject to the provisions of section 4617, sue or be sued, including taking any legal actions necessary or proper for recovery of any unpaid assessments under section 4609 or to settle claims or potential claims against it;

C. Borrow money to effect the purposes of this chapter.__ Any notes or other evidence of indebtedness of the association not in default are legal investments for domestic insurers and may be carried as admitted assets;

D. Employ or retain such persons as are necessary or appropriate to handle the financial transactions of the association and to perform such other functions as become necessary or proper under this chapter;

E. Negotiate and contract with any liquidator, rehabilitator, conservator or ancillary receiver to carry out the powers and duties of the association;

F. Take such legal action as may be necessary to avoid or recover payment of improper claims; and

G. Exercise, for the purposes of this chapter and to the extent approved by the superintendent, the powers of a