Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 161

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 161
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 that MVT will achieve its investment objective. As a matter of fundamental policy, under normal market

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conditions, MVT will invest at least 80% of its Managed Assets in investments the income from which is exempt from federal income tax (except that the interest may be subject to the federal
alternative minimum tax). “Managed Assets” means MVT’s total assets (including any assets attributable to money borrowed for investment purposes) minus the sum of MVT’s accrued liabilities (other than money borrowed for
investment purposes). MVT may invest directly in securities or synthetically through the use of derivatives. MVT cannot change its investment objective or the foregoing fundamental policy without the approval of the holders of a majority of the
outstanding common shares and the outstanding preferred shares, including MVT’s VMTP Shares, voting together as a single class, and of the holders of a majority of the outstanding preferred shares, including the VMTP Shares, voting as a
separate class. A majority of the outstanding means (1) 67% or more of the shares present at a meeting, if the holders of more than 50% of the outstanding shares are present or represented by proxy, or (2) more than 50% of the outstanding
shares, whichever is less.

MVT’s investment policies provide that, under normal market conditions, MVT will invest at least 80% of
its Managed Assets in investment quality securities. For the purposes of the foregoing policy, an investment quality security is a security that is rated BBB or Baa or higher by Moody’s, S&P or Fitch or another nationally recognized rating
agency or, if unrated, deemed to be of comparable quality by the Investment Advisor. MVT Municipal Bonds rated Baa by Moody’s are investment grade, but Moody’s considers MVT Municipal Bonds rated Baa to have speculative characteristics.
Changes in economic conditions or other circumstances are more likely to lead to a weakened capacity for issuers of MVT Municipal Bonds that are rated BBB or Baa (or that have equivalent ratings) to make principal and interest payments than is the
case for issues of higher grade MVT Municipal Bonds. “MVT Municipal Bonds” means municipal obligations issued by or on behalf of states, territories and possessions of the United States and their political subdivisions, agencies or
instrumentalities, each of which pays interest that, in the opinion of bond counsel to the issuer, is excludable from gross income for federal income tax purposes (except that the interest may be includable in