Item 7.01. Regulation FD Disclosure.
On November 2, 2021, the Board of Directors (the "Board") of BlackRock MuniYield
Quality Fund, Inc., a Maryland corporation (the "Fund"), adopted resolutions to
cause the Fund to be subject to the Maryland Control Share Acquisition Act (the
"MCSAA"), effective November 2, 2021, and elected to classify the Board,
effective November 18, 2021, pursuant to provisions of the Maryland General
Corporation Law. Also on November 2, 2021, the Board approved amending and
restating the bylaws of the Fund in their entirety (the "Amended and Restated
Bylaws") to reflect the Fund's election to be subject to the MCSAA, classify the
Board and amend Article I, Section 11 of the bylaws relating to the election of
Directors. The Amended and Restated Bylaws provide that the provisions of the
MCSAA do not apply to, among other things, the voting rights of the holders of
any shares of preferred stock of the Fund (but only with respect to such
preferred stock) or to the voting rights of any person acquiring shares of stock
of the Fund in a control share acquisition (as defined in the MCSAA) if, prior
to the acquisition, the person obtains approval of the Board exempting the
acquisition from the MCSAA specifically, generally, or generally by types, which
exemption may include the person and the person's affiliates or associates or
other persons. The Amended and Restated Bylaws are effective November 2, 2021. A
copy of the Amended and Restated Bylaws is included as Exhibit 3.1 to this
report and incorporated by reference herein. The initial classes of Directors of
the Fund are set out in Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Description
3.1 Amended and Restated Bylaws of BlackRock MuniYield Quality Fund,
Inc., effective as of November 2, 2021
99.1 Initial Classes of Directors
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