For the purposes of sections 9 to 14 of this act when:
(a) $10,000.00 has been credited upon any judgment or judgments rendered in excess of that amount for bodily injury to or the death of 1 person as the result of 1 accident;
(b) Subject to the limit of $10,000.00 for 1 person so injured or killed, the sum of $20,000.00 has been credited upon any judgment or judgments rendered in excess of that amount for bodily injury to or the death of more than 1 person as the result of 1 accident; or
(c) $5,000.00 has been credited upon any judgment or judgments rendered in excess of that amount for damage to property as the result of 1 accident--
Such payment or payments shall be deemed a satisfaction of the judgment or judgments.