Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 283

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 283
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MVF’s preferred shares is required to make any amendments to the charter that would otherwise adversely affects the rights of the holders of MVF’s preferred shares.

The charter and Bylaws of MVF provide that the Board has the power, to the exclusion of shareholders, to make, alter or repeal any of the
Bylaws (except for any Bylaw specified not to be amended or repealed by the Board), subject to the requirements of the 1940 Act. Neither this provision of the charter, nor any of the foregoing provisions of the charter requiring the affirmative vote
of 66 2/3% of shares of capital stock of MVF, can be amended or repealed except by the vote of such required number of shares.

In
addition, conversion of MVF to an open-end investment company would require an amendment to MVF’s charter. The amendment would have to be declared advisable by the Board prior to its submission to
shareholders. Such an amendment would require the favorable vote of the holders of at least 75% of MVF’s outstanding shares of capital stock entitled to be voted on the matter, voting as a single class (or a majority of such shares if the
amendment was previously approved, adopted or authorized by two-thirds of the total number of Board Members fixed in accordance with the Bylaws). Such a vote also would satisfy a separate requirement in the
1940 Act that the change be approved by the shareholers. Shareholders of an open-end investment company may require the company to redeem their common share at any time (except in certain circumstances as
authorized by or under the 1940 Act) at their NAV, less such redemption charge, if any, as might be in effect at the time of a redemption. If the Acquiring Fund is converted to an open-end investment company,
it could be required to liquidate portfolio securities to meet requests for redemption, and the Common Shares would no longer be listed on a stock exchange.

MVF’s Board has determined that the 75% of shares of capital stock of MVF, can be amended or repealed except by the vote of such
required number of shares. The Board has determined that the 66 2/3% voting requirements described above, which are greater than the minimum requirements under Maryland law or the 1940 Act, are in the best interests of stockholders generally.
Reference should be made to the charter on file with the SEC for the full text of these provisions. MVF’s Bylaws generally require that advance notice be given