Company: JPC
Filing Date: 2025-04-24
Form Type: N-14 8C
Source: 0001999371-25-004713
Chunk: 135

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-04-24
Form: N-14 8C
Chunk 135
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 that shareholders will have no right to acquire, purchase or subscribe for any shares or securities of the Acquiring Fund, other than such right, if any, as the Acquiring Fund’s Board in its discretion may determine.

Procedural Requirements on Derivative Actions, Exclusive Jurisdiction and Jury Trial Waiver

The by-laws of the Acquiring Fund contain certain provisions affecting potential shareholder claims against the Fund, including procedural requirements for derivative actions, an exclusive forum provision, and the waiver of shareholder rights to a jury trial. Massachusetts is considered a “universal demand” state, meaning that under Massachusetts corporate law a shareholder must make a demand on the company before bringing a derivative action (i.e., a lawsuit brought by a shareholder on behalf of the company). The by-laws of the Acquiring Fund provide detailed procedures for the bringing of derivative actions by shareholders (the “Demand By-Law”) which are modeled on the substantive provisions of the Massachusetts corporate law derivative demand statute. The Demand By-Law is intended to permit legitimate inquiries and claims while avoiding the time, expense, distraction, and other harm that can be caused to the Acquiring Fund or its shareholders as a result of spurious shareholder demands and derivative actions. Among other things, the Demand By-Law:

| ● | provides                                                                              
 that before bringing a derivative action, a shareholder must make a written demand to 
 the Acquiring Fund;                                                                   |

| ● | establishes                                                                          
 a 90 day review period, subject to extension in certain circumstances, for the Board 
 to evaluate the shareholder’s demand;                                                |

| ● | establishes                                                                          
 a mechanism for the Board to submit the question of whether to maintain a derivative 
 action to a vote of shareholders;                                                    |

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| ● | provides                                                                                     
 that if the Acquiring Fund does not notify the requesting shareholder of the rejection       
 of the demand within the applicable review period, the shareholder may commence a derivative 
 action;                                                                                      |

| ● | establishes                                                                          
 bases upon which a trustee will not be considered to be not independent for purposes 
 of evaluating a derivative demand; and                                               |

| ● | provides                                                                                  
 that if the trustees who are independent for purposes of considering a shareholder demand 
 determine in good faith within the applicable review period that the maintenance of a     
 derivative action is not in the best interest of the Acquiring Fund, the shareholder      
 shall not be permitted to maintain a derivative action unless he or she first sustains    
 the burden of proof to the court that the decision of the