Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 271

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 271
---
 the favorable vote of the holders of at least 75% of MVF’s shares to approve, adopt or authorize various actions, including the following:

| ● |     | a merger or consolidation or statutory share exchange of MVF with any other corporation; |

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

| ● |     | a liquidation or dissolution of MVF; |

unless such action has been approved, adopted or authorized by the affirmative vote of at least two-thirdsof the total number of Directors fixed in accordance with the Bylaws, in which case the affirmative vote of a majority of MVF’s shares of capital stock is required. The approval, adoption or authorization of the foregoing also requires the favorable vote of a majority of MVF’s outstanding Preferred Shares (as defined in the 1940 Act), then entitled to be voted, voting as a separate class. MVF’s charter further provides that the vote of the holders of at least a majority of MVF’s preferred shares is required to make any amendments to the charter that would otherwise adversely affects the rights of the holders of MVF’s preferred shares. The charter and Bylaws of MVF provide that the Board has the power, to the exclusion of shareholders, to make, alter or repeal any of the Bylaws (except for any Bylaw specified not to be amended or repealed by the Board), subject to the requirements of the 1940 Act. Neither this provision of the charter, nor any of the foregoing provisions of the charter requiring the affirmative vote of 66 2/3% of shares of capital stock of MVF, can be amended or repealed except by the vote of such required number of shares. In addition, conversion of MVF to an open-endinvestment company would require an amendment to MVF’s charter. The amendment would have to be declared advisable by the Board prior to its submission to shareholders. Such an amendment would require the favorable vote of the holders of at least 75% of MVF’s outstanding shares of capital stock entitled to be voted on the matter, voting as a single class (or a majority of such shares if the amendment was previously approved, adopted or authorized by two-thirdsof the total number of Board Members fixed in accordance with the Bylaws). Such a vote also would satisfy a separate requirement in the 1940 Act that the change be approved by the shareholders. Shareholders of an open-endinvestment