(2) Any person qualified under the laws of the jurisdiction in which an investment holding company is established may serve as an officer, director, member or manager of the company. Officers and employees of the office of the State Treasurer may serve as directors, officers and members of investment holding companies authorized by this section. However, if a conflict arises between the duties of the officer or employee of the office of the State Treasurer under state law and the duties of the officer or employee of the office of the State Treasurer as a director, officer or member of the investment holding company, the officer or employee shall abstain from acting on behalf of the company. If the conflict cannot be avoided by abstention, the officer or employee shall immediately resign from the company. [1993 c.76 §2; 1999 c.481 §1]