Company: CLM
Filing Date: 2025-02-21
Form Type: N-2
Source: 0001398344-25-003234
Chunk: 79

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-02-21
Form: N-2
Chunk 79
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 of FATCA.

Other Taxation

The Fund’s Stockholders may be subject to state,
local and foreign taxes on its distributions. Stockholders are advised to consult their own tax advisors with respect to the particular
tax consequences to them of an investment in the Fund.

The foregoing briefly summarizes some of the important
federal income tax consequences to Stockholders of investing in the Shares, reflects the federal tax law as of the date of this prospectus,
and except as expressly provided herein, does not address special tax rules applicable to certain types of investors, such as corporate,
tax exempt and foreign investors. Investors should consult their tax advisers regarding other federal, state or local tax considerations
that may be applicable in their particular circumstances, as well as any proposed tax law changes.

<div align='center'>DESCRIPTION OF CAPITAL STRUCTURE</div>

The Fund is a corporation established under the laws
of the State of Maryland upon the filing of its Charter on May 1, 1987. The Fund commenced investment operations on June 30, 1987. The
Fund intends to hold annual meetings of its Stockholders in compliance with the requirements of the NYSE American. As of January 31,
2025, the Fund had 249,755,203 Shares issued and outstanding.

Common Stock

The Charter, which has been filed with the SEC, permits
the Fund to issue 800,000,000 shares of stock, with a par value of $0.001. Fractional shares are permitted. Each Share represents an
equal proportionate interest in the net assets of the Fund with each other Share. Holders of Shares will be entitled to the payment of
dividends when declared by the Board of Directors. See “Distribution Policy.” Each whole Share shall be entitled to one vote
as to matters on which it is entitled to vote pursuant to the terms of the Charter on file with the SEC. Upon liquidation of the Fund,
after paying or adequately providing for the payment of all liabilities of the Fund, and upon receipt of such releases, indemnities and
refunding agreements as they deem necessary for the protection of the Directors, the Board may distribute the remaining net assets of
the Fund among its Stockholders. Shares are not liable to further calls or to assessment by the Fund. There are no pre-emptive rights
associated with Shares.

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The Fund has no present intention of offering additional
Shares, except as described herein in connection with the exercise of the Rights. Other offerings of its Shares,