Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 279

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 279
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 majority of MVF’s outstanding Preferred Shares (as defined in the 1940 Act), then entitled to be voted, voting as a separate class. MVF’s charter further provides that the vote of the holders of at least a majority of 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of shareholders, to make, alter or repeal any of the Bylaws (except for any Bylaw specified not to be amended or repealed by the Board), subject to the requirements of the 1940 Act.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of the charter requiring the affirmative vote of 66 2/3% of shares of capital stock of MVF, can be amended or repealed except by the vote of such required number of shares.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-endinvestment 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-thirdsof 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 shareholders. Shareholders of an open-endinvestment 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-endinvestment 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 MVF’s Board has determined that the 75% of shares of capital stock of MVF, can be amended or repealed except by the vote of such required number of shares.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