(1) The Insurance Code does not limit or prohibit the licensing of a banking institution, as defined in ORS 706.008, as an insurance producer to transact one or more of the classes of insurance described in ORS 744.062, 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, of any of the following: (a) A corporation owned in whole or in part by a banking institution under ORS 708A.120, 716.588 or 716.594. (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.
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