Oregon Statutes 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, as an insurance producer to transact one or more of the classes of insurance described in ORS § 744.062, except for title insurance.
Terms Used In Oregon Statutes 744.061
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(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. [1989 c.701 § 24; 1997 c.631 § 548; 2001 c.191 § 24; 2001 c.377 § 51; 2003 c.364 § 7; 2005 c.194 § 5]