(a) General rule. This part establishes consumer protections in connection with retail sales practices, solicitations, advertising, or offers of any insurance product or annuity to a consumer by:
(1) Any savings association; or
(2) Any other person that is engaged in such activities at an office of a savings association or on behalf of a savings association.
(b) Application to operating subsidiaries. For purposes of Sec. 559.3(h) of this chapter, an operating subsidiary is subject to this part only to the extent that it sells, solicits, advertises, or offers insurance products or annuities at an office of a savings association or on behalf of a savings association.