Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 214

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 214
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be changed without the approval of the holders of a majority of the outstanding common stock and the outstanding preferred shares, including the VMTP Shares, voting together as a single class, and of the holders of a majority of the outstanding
preferred shares, including the VMTP Shares, voting as a separate class. A majority of the outstanding means (1) 67% or more of the stock present at a meeting, if the holders of more than 50% of the outstanding stock are present or represented by
proxy, or (2) more than 50% of the outstanding stock, whichever is less.

MVF’s credit quality policies apply only at the time
a security is purchased, and MVF is not required to dispose of a security if a rating agency downgrades its assessment of the credit characteristics of a particular issue. In

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determining whether to retain or sell a security that a rating agency has downgraded, the Investment Advisor may consider such factors as the Investment Advisor’s assessment of the credit
quality of the issuer of the security, the price at which the security could be sold and the rating, if any, assigned to the security by other rating agencies. In the event that MVF disposes of a portfolio security subsequent to its being
downgraded, MVF may experience a greater risk of loss than if such security had been sold prior to such downgrade.

MVF may also purchase
MVF Municipal Bonds that are additionally secured by insurance, bank credit agreements or escrow accounts. The credit quality of companies which provide these credit enhancements will affect the value of those securities. Although the insurance
feature reduces certain financial risks, the premiums for insurance and the higher market price paid for insured obligations may reduce MVF’s income. The insurance feature does not guarantee the market value of the insured obligations or the
net asset value of the common stock. MVF may purchase insured bonds and may purchase insurance for bonds in its portfolio.

MVF may invest
in certain tax exempt securities classified as PABs (in general, bonds that benefit non-governmental entities) that may subject certain investors in MVF to an alternative minimum tax. The percentage of
MVF’s total assets invested in PABs will vary from time to time. MVF has not established any limit on the percentage of its portfolio that may be invested in MVF Municipal Bonds subject to the federal alternative minimum tax provisions of
federal tax law, and MVF expects that a portion of the income it produces will be includable in alternative minimum