Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 281

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 281
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 a Director, may be filled only by the affirmative vote of a majority of the remaining Directors, even if the remaining Directors do not constitute a quorum. That election does not limit the power of MVF to confer on the holders of a class or series of Preferred Stock the right to elect one or more Directors pursuant to a provision in its charter. Certain Provisions in the Charter and Bylaws of the Acquiring Fund The Acquiring Fund’s charter includes provisions that could have the effect of limiting the ability of other entities or persons to acquire control of the Fund or to change the composition of its Board and could have the effect of depriving common shareholders of an opportunity to sell their shares at a premium over prevailing market prices by discouraging a third-party from seeking to obtain control of Acquiring Fund. A Director may be removed from office 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 Acquiring Fund’s shares to approve, adopt or authorize various actions, including the following:

| • |     | a merger or consolidation or statutory share exchange of the Acquiring Fund with any other corporation; |

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

| • |     | a liquidation or dissolution of the Acquiring Fund; |

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 the Acquiring Fund’s shares of capital stock is required. The approval, adoption or authorization of the foregoing also requires the favorable vote of a majority of Acquiring Fund’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 Acquiring Fund 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