Company: RFMZ
Filing Date: 2025-02-20
Form Type: N-2/A
Source: 0001398344-25-003172
Chunk: 152

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-02-20
Form: N-2/A
Chunk 152
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 vote to be taken, or become aware of a request for consent of security holders on a material matter affecting the investment, MacKay Shields will consider whether to request that clients call back securities loans, if applicable. In determining whether to request that clients call back securities loans, the relevant portfolio manager(s) shall consider whether the benefit to the client in voting the matter or giving or withholding consent outweighs the benefit to the client in keeping the security on loan. There may be instances when MacKay Shields may not be aware of the upcoming shareholder meeting or request for consent with sufficient time in advance to make such a request, or when MacKay Shields’ request that a client call back a securities loan in sufficient time to vote or give or withhold consent may not be successful.

10. Reporting

Upon request, MacKay Shields shall report annually (or more frequently if specifically requested) to its clients on proxy votes cast on their behalf. MacKay Shields will provide any client who makes a written or verbal request with a copy of a report disclosing how MacKay Shields voted securities held in that client’s portfolio. The report will generally contain the following information:

| ● | The                                 
 name of the issuer of the security; |

<div align='center'>B-5</div>

| ● | The                                
 security’s exchange ticker symbol; |

| ● | The                      
 security’s CUSIP number; |

| ● | The                       
 shareholder meeting date; |

| ● | A                                            
 brief identification of the matter voted on; |

| ● | Whether                                                        
 the matter was proposed by the issuer or by a security holder; |

| ● | Whether                                                             
 MacKay Shields cast its vote on the matter on behalf of the client; |

| ● | How                                               
 MacKay Shields voted on behalf of the client; and |

| ● | Whether                                                                 
 MacKay Shields voted for or against management on behalf of the client. |

11. Record-Keeping

Either MacKay Shields or ISS as indicated below will maintain the following records:

| ● | A                                                                          
 copy of the Policy and MacKay’s Standard Guidelines and Custom Guidelines; |

| ● | A                                                                                           
 copy of each proxy statement received by MacKay Shields or forwarded to ISS by the client’s 
 custodian regarding client securities;                                                      |

| ● | A                                                                 
 record of each vote cast by MacKay Shields on behalf of a client; |

| ● | A                                                                                          
 copy of all documents created by MacKay Shields that were material to making a decision on 
 the proxy voting (or abstaining