Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 334

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 334
---
 of its total assets for temporary purposes without regard to the amount of senior securities outstanding under clauses (a) and         
 (b) above; provided, however, that the Fund’s obligations under interest rate swaps, when issued and forward commitment transactions and similar transactions are not treated as senior securities if covering assets are appropriately segregated;  
 or pledge its assets other than to secure such issuances or in connection with Hedging Transactions, short sales, when-issued and forward commitment transactions and similar investment strategies. For purposes of clauses (a), (b) and (c) above, |

B-2

| “total assets” shall be calculated after giving effect to the net proceeds of any such issuance and net of any liabilities and indebtedness that do not constitute senior securities 
 except for such liabilities and indebtedness as are excluded from treatment as senior securities by the proviso to this item (3);                                                    |

| ● |     | make loans of money or property to any person, except through loans of portfolio securities, the purchase of                                            
 fixed income securities consistent with the Fund’s investment objective and policies or the acquisition of securities subject to repurchase agreements; |

| ● |     | underwrite the securities of other issuers, except to the extent that in connection with the disposition of 
 portfolio securities or the sale of its own shares the Fund may be deemed to be an underwriter;             |

| ● |     | invest for the purpose of exercising control over any issuer, except that the Fund may control a portfolio 
 subsidiary;                                                                                                |

| ● |     | purchase or sell real estate or interests therein other than municipal obligations secured by real estate or 
 interests therein;                                                                                           |

| ● |     | purchase or sell commodities or commodity contracts except for purposes, and only to the extent, permitted by                          
 applicable law without the Fund becoming subject to registration with the Commodity Futures Trading Commission as a commodity pool; or |

| ● |     | make any short sale of securities except in conformity with applicable laws, rules and regulations and unless,                                                                                                                                 
 giving effect to such sale, the market value of all securities sold short does not exceed 25% of the value of the Fund’s total assets and the Fund’s aggregate short sales of a particular class of securities does not exceed 25% of the then 
 outstanding securities of that class.                                                                                                                                                                                                          |

As a matter of fundamental policy, under normal market conditions, the Fund will invest at least 80% of its Managed Assets in investments the income from which is exempt from federal income tax. As a