(1) This section establishes a schedule of payments for the following purposes:
(a) An insurance policy described under ORS 806.080 must provide for payment of at least amounts necessary to cover the minimum required payments under this section to qualify for use for financial responsibility under ORS 806.060.
(b) A person who is self-insured under ORS 806.130 must agree to pay according to the payment schedule established by this section.
(c) The payment schedule is the minimum required payment of a judgment for purposes of ORS 809.130 and 809.415.
(2) The schedule of payments is as follows:
(a) $25,000 because of bodily injury to or death of one person in any one accident;
(b) Subject to that limit for one person, $50,000 because of bodily injury to or death of two or more persons in any one accident; and
(c) $20,000 because of injury to or destruction of the property of others in any one accident.