ORS 744.061
Banking institution as insurance producer


(1)

The Insurance Code does not limit or prohibit the licensing of a banking institution, as defined in ORS 706.008 (Additional definitions for Bank Act), as an insurance producer to transact one or more of the classes of insurance described in ORS 744.062 (Issuance of insurance producer license), except for title insurance.

(2)

The Insurance Code does not limit or prohibit the licensing, as an insurance producer to transact one or more of the classes of insurance described in ORS 744.062 (Issuance of insurance producer license), of any of the following:

(a)

A corporation owned in whole or in part by a banking institution under ORS 708A.120 (Investment in stock of other entity), 716.588 (Investments in certain corporate capital stocks) or 716.594 (Authority of Oregon savings bank to acquire corporation licensed as insurance producer).

(b)

A corporation owned in whole or in part by a financial holding company or a bank holding company, as defined in ORS 706.008 (Additional definitions for Bank Act). [1989 c.701 §24; 1997 c.631 §548; 2001 c.191 §24; 2001 c.377 §51; 2003 c.364 §7; 2005 c.194 §5]

Source
Last accessed
May. 15, 2020