Company: MYI
Filing Date: 2025-07-16
Form Type: N-14 8C
Source: 0001193125-25-159991
Chunk: 279

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-16
Form: N-14 8C
Chunk 279
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 a majority of the remaining directors, in office, even if the remaining directors do not constitute a quorum. Any Director elected to fill such vacancy shall hold office for the remainder of the unexpired term and until his or her successor is elected and qualified. A board of directors may implement all or any of these provisions without stockholder approval. A corporation may be prohibited by its charter or by resolution of its board of directors from electing any of the provisions of the statute. MVT is not prohibited from implementing any or all of the statute and, pursuant to MVT’s Bylaws and charter, MVT has elected to be subject to such provisions of the statute such that MVT’s Board is classified and all vacancies on the Board resulting from an increase in the size of the Board or the death, resignation or removal of a Board Member, may be filled only by the affirmative vote of a majority of the remaining Director, even if the remaining Director do not constitute a quorum. That election does not limit the power of MVT to confer on the holders of a class or series of Preferred Stock the right to elect one or more Directors pursuant to a provision in its charter. Certain Provisions in the Charter and Bylaws of MIY MIY’s charter includes provisions that could have the effect of limiting the ability of other entities or persons to acquire control of the Fund or to change the composition of its Board and could have the effect of depriving common shareholders of an opportunity to sell their shares at a premium over prevailing market prices by discouraging a third-party from seeking to obtain control of MIY. A Director may be removed from office with or without cause but only by vote of the holders of at least 66 2/3% of the shares entitled to vote in an election to fill that directorship. A director elected by all of the holders of capital stock may be removed only by action of such holders, and a director elected by the holders of preferred stock may be removed only by action of the holders of preferred stock. In addition, the charter requires the favorable vote of the holders of at least 66 2/3% of MIY’s shares to approve, adopt or authorize various actions, including the following:

| • |     | a merger or consolidation or statutory share exchange of MIY with any other corporation; |

| • |     | a sale of all or substantially all of MIY’s assets (other than in the regular course of MIY’s 
 investment activities); or                                                                    |

| • |     | a liquid