Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 268

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 268
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 with or without cause but only by vote of the holders of at least 66 2/3% of the shares entitled to vote in an election to fill that directorship. A director elected by all of the holders of capital stock may be removed only by action of such holders, and a director elected by the holders of preferred stock may be removed only by action of the holders of preferred stock. In addition, the charter requires the favorable vote of the holders of at least 66 2/3% of MIY’s shares to approve, adopt or authorize various actions, including the following:

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

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

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

unless such action has been approved, adopted or authorized by the affirmative vote of at least two-thirds ofthe total number of Directors fixed in accordance with the Bylaws, in which case the affirmative vote of a majority of MIY’s shares of capital stock is required. The approval, adoption or authorization of the foregoing also requires the favorable vote of a majority of MIY’s outstanding preferred stock (as defined in the 1940 Act), then entitled to be voted, voting as a separate class. The charter and Bylaws of MIY 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of shareholders, to make, alter or repeal any of the Bylaws (except for any Bylaw specified not to be amended or repealed by the Board), subject to the requirements of the 1940 Act.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of the charter requiring the affirmative vote of 66 2/3% of shares of capital stock of MIY, can be amended or repealed except by the vote of such required number of shares. In addition, conversion of MIY to an open-end investmentcompany would require an amendment to MIY’s charter. The amendment would have to be declared advisable by the Board prior to its submission to shareholders. Such an amendment would then require the favorable vote of the holders of at least 66 2/3% of MIY’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-thirds ofthe