Section 209. The commissioner may issue a license pursuant to section 162M and section 162N to a bank or credit union chartered by the commonwealth pursuant to chapter 168, 170, 171 or 172, and to a bank or credit union chartered by the United States, to act as an insurance producer pursuant to this chapter and in accordance with the provisions of section 2A of chapter 167F and section 75B of chapter 171, respectively, for the solicitation and sale of insurance products as the company, for which such bank or credit union acts as producer, is authorized to issue in the commonwealth.