Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 277

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 277
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 Maryland corporation governed by the laws of the State of Maryland on February 3, 1993, and commenced operations on
March 29, 1993.

MIY was formed as a Maryland corporation governed by the laws of the State of Maryland on June 30, 1992, and
commenced operations on October 30, 1992.

MVF was formed as a Maryland corporation governed by the laws of the State of Maryland on
July 6, 1988, and commenced operations on September 29, 1988.

The Acquiring Fund was formed as a Maryland corporation governed
by the laws of the State of Maryland on January 13, 1992, and commenced operations on April 13, 1992.

Shareholders of a
Maryland corporation currently have no personal liability for the corporation’s acts or obligations, except that a shareholder may be liable to the extent that (i) the shareholder knowingly accepted a distribution in violation of such
Maryland corporation’s charter or the Maryland General Corporation Law or (ii) the subscription price or other agreed upon consideration for stock subscribed for has not been paid.

168

CONVERSION TO OPEN-ENDFUND

The MVF Charter provides that that a favorable vote of the holders of at least seventy-five percent (75%) of the shares of
capital stock entitled to be voted on the matter shall be required to convert the MVF to an open-end investment company, unless such action has previously been approved, adopted or authorized by the
affirmative vote of at least two-thirds of each Fund’s Board Members, in which case the affirmative vote of the holders of a majority of the outstanding shares of capital stock of the Fund
entitled to vote thereon shall be required. For each of MVF and the Acquiring Fund, each Fund’s Charter provides that a favorable vote of the holders of at least 66 2/3% of the outstanding shares of capital stock entitled to be voted on the
matter shall be required to convert the Fund to an open-end investment company, unless such action has previously been approved, adopted or authorized by the affirmative vote of at least two-thirds of each Fund’s Directors, in which case the affirmative vote of the holders of a majority of the outstanding shares of capital stock of the Fund entitled to vote thereon shall be
required.

The foregoing votes would satisfy a separate requirement in the 1940 Act that any conversion of a Fund to an open-end investment company be approved by the shareholders. If approved in the foregoing