Company: JPC
Filing Date: 2025-06-10
Form Type: N-14 8C/A
Source: 0001999371-25-007489
Chunk: 137

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-06-10
Form: N-14 8C/A
Chunk 137
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 The Demand By-Law is intended to permit legitimate inquiries and claims while avoiding the time, expense, distraction, and other harm that can be caused to the Acquiring Fund or its shareholders as a result of spurious shareholder demands and derivative actions. Among other things, the Demand By-Law:

| ● | provides                                                                              
 that before bringing a derivative action, a shareholder must make a written demand to 
 the Acquiring Fund;                                                                   |

| ● | establishes                                                                          
 a 90 day review period, subject to extension in certain circumstances, for the Board 
 to evaluate the shareholder’s demand;                                                |

| ● | establishes                                                                          
 a mechanism for the Board to submit the question of whether to maintain a derivative 
 action to a vote of shareholders;                                                    |

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| ● | provides                                                                                     
 that if the Acquiring Fund does not notify the requesting shareholder of the rejection       
 of the demand within the applicable review period, the shareholder may commence a derivative 
 action;                                                                                      |

| ● | establishes                                                                          
 bases upon which a trustee will not be considered to be not independent for purposes 
 of evaluating a derivative demand; and                                               |

| ● | provides                                                                                  
 that if the trustees who are independent for purposes of considering a shareholder demand 
 determine in good faith within the applicable review period that the maintenance of a     
 derivative action is not in the best interest of the Acquiring Fund, the shareholder      
 shall not be permitted to maintain a derivative action unless he or she first sustains    
 the burden of proof to the court that the decision of the trustees not to pursue the      
 requested action was not a good faith exercise of their business judgment on behalf of    
 the Fund.                                                                                 |

The Demand By-Law may be more restrictive than procedures for bringing derivative suits applicable to other investment companies.

The by-laws also require that actions by shareholders against the Acquiring Fund, except for actions under the U.S. federal securities laws, be brought only in a certain federal court in Massachusetts, or if not permitted to be brought in federal court, then in the Business Litigation Session of the Massachusetts Superior Court in Suffolk County (the “Exclusive Jurisdictions”), and that the right to jury trial be waived to the fullest extent permitted by law. Other investment companies may not be subject to similar restrictions. The designation of Exclusive Jurisdictions may make it more expensive for a shareholder to bring a suit than if the shareholder were permitted to select another jurisdiction. Also, the designation of Exclusive Jurisdictions and the waiver of jury trials limit