Company: NMI
Filing Date: 2025-01-06
Form Type: N-CSR
Source: 0001193125-25-002221
Chunk: 83

Company: NUVEEN MUNICIPAL INCOME FUND INC
Filing Date: 2025-01-06
Form: N-CSR
Chunk 83
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 of the Fund, (iii) the portfolio managers of the Funds; (iv) a Fund’s charter or by-lawsthat would delay or prevent a change of control of the Fund that have not been approved by shareholders except as follows: Amended and Restated By-laws On October 5, 2020, the Nuveen Municipal Value Fund, Inc., Nuveen AMT-FreeMunicipal Value Fund and the Nuveen Municipal Income Fund, Inc. (each a “Fund” and collectively the “Funds”) and certain other closed-endfunds in the Nuveen fund complex amended their by-laws.Among other things, the amended by-lawsincluded provisions pursuant to which, in summary, a shareholder who obtains beneficial ownership of common shares in a Control Share Acquisition (as defined in the by-laws)shall have the same voting rights as other common shareholders only to the extent authorized by the other disinterested shareholders (the “Control Share By-Law”).On February 24, 2022, the Board of the Funds suspended the Control-Share By-Lawprovisions. Subsequently, on February 28, 2024, the Board of the Funds adopted Amended and Restated By-Lawsto eliminate the Control Share By-Lawprovision in its entirety. Other than the elimination of the Control Share By-Lawprovisions, the Amended and Restated By-Laws are identical to the previously adopted by-laws. Principal Risks The following risk factors were added as principal risks to the Funds: Direct Lending Risk.The Fund may engage in direct lending. Direct loans between the Fund and a borrower may not be administered by an underwriter or agent bank. The Fund may provide financing to commercial borrowers directly or through companies affiliated with the Fund. The terms of the direct loans are negotiated with borrowers in private transactions. Furthermore, a direct loan may be secured or unsecured. The Fund will rely primarily upon the creditworthiness of the borrower and/or any collateral for payment of interest and repayment of principal. Direct loans may subject the Fund to liquidity risk, interest rate risk, and borrower default or insolvency. Direct loans are not publicly traded and may not have a secondary market which may have an adverse impact on the ability of the Fund to dispose of a direct loan and/or value the direct loan. The Fund’s performance may be impacted by the Fund’s ability to lend on favorable terms as the Fund may be subject to increased competition or a reduced supply of qualifying loans which could lead to