Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 371

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 371
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 that the due diligence performed by the Investment Advisor
will identify or prevent any such misconduct.

Anti-Takeover Provisions. The Acquiring Fund’s Charter, Bylaws
and the General Corporation Law of the State of Maryland include provisions that could limit the ability of other entities or persons to acquire control of

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the Acquiring Fund or to change the composition of its Board of Directors. Such provisions could limit the ability of stockholders to sell their shares at a premium over prevailing market prices
by discouraging a third party from seeking to obtain control of the Acquiring Fund. See “Certain Provisions in the Charter and Bylaws.”

Portfolio Turnover Risk.The Acquiring Fund’s annual portfolio turnover rate may vary greatly from year to year,
as well as within a given year. Portfolio turnover rate is not considered a limiting factor in the execution of investment decisions for the Acquiring Fund. A higher portfolio turnover rate results in correspondingly greater brokerage commissions
and other transactional expenses that are borne by the Acquiring Fund. High portfolio turnover may result in an increased realization of net short-term capital gains by the Acquiring Fund which, when distributed to common shareholders, will be
taxable as ordinary income. Additionally, in a declining market, portfolio turnover may create realized capital losses.

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MANAGEMENT OF THE FUNDS The Board of Directors and Officers The Board of Trustees or the Board of Directors, as applicable (each, a “Board”), currently consists of ten individuals (each, a “Board Member”), eight of whom are not “interested persons” of each Fund as defined in the 1940 Act (the “Independent Board Members”). The BlackRock-Advised Funds are organized into one complex of closed-endfunds and open-end non-indexfixed-income funds (the “BlackRock Fixed-Income Complex”), one complex of open-endequity, multi-asset, index and money market funds (the “BlackRock Multi-Asset Complex”) and one complex of exchange-traded funds (each, a “BlackRock Fund Complex”). Each Fund is included in the BlackRock Fixed-Income Complex. The Board Members also oversee as Board members the operations of the other closed-endregistered investment companies included in the BlackRock Fixed-Income Complex. Certain biographical and other information relating to the Board Members and officers of each Fund is set forth below, including their year of birth, their principal occupation for at least the last five years, the length of time served, the total number of investment companies overseen in the Black