; and (2) insert at the end the following new paragraph: (b) A Member, Delegate, or Resident Commissioner who has been indicted for or otherwise formally charged with criminal conduct in any Federal, State, or local court punishable as a felony for which a sentence of two or more years’ imprisonment may be imposed should submit his or her resignation from any standing, select, joint or ad hoc committee, and any subcommittee thereof, on which he or she serves, and should step aside from any party caucus or conference leadership position he or she holds, unless or until judicial or executive proceedings result in acquittal or the charges are dismissed or reduced to less than a felony as described in this paragraph. . (ii) Banning members, officers, and employees from sitting on corporate boards Effective January 1, 2020, in rule XXIII— (1) redesignate clause 19 as clause 20; and (2) insert after clause 18 the following new clause: 19. (a) A Member, Delegate, Resident Commissioner, officer, or employee of the House may not serve as an officer or director of any public company. (b) In paragraph (a), the term public company means an issuer as defined in section 3 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c )— (1) the securities of which are required to be registered under section 12 of such Act ( 15 U.S.C. 78l )