New PL5 - set for lens OIS - does it automatically default back to IBIS when no OIS?

Just got the PL5.  Like it quite a bit.  Have the OMD.

Quick question: On the PL5, one can set the optical stabilization to use the LENS stabilization in lieu of the built in camera IBIS.  So if I use a Panasonic with OIS, it will use the Panasonic OIS.

Question: If I set it for lens OIS, but am using a Olympus lens, would it AUTOMATICALLY use IBIS without me setting it back to IBIS?

Thanks,

MTMT