Western Asset Mortgage Opportunity Fund Inc. Amends and Restates Bylaws

Western Asset Mortgage Opportunity Fund Inc. recently filed an 8-K form with the SEC, detailing amendments made to its bylaws. The Fourth Amended and Restated Bylaws were approved by the Board of Directors on November 15, 2024, and subsequently became effective. These bylaws outlined in the filing pertain to the governance and functioning of the company.

The new bylaws designate a principal office in Maryland for Western Asset Mortgage Opportunity Fund Inc. and allow for the establishment of additional offices within and outside the state as deemed necessary.

Annual meetings of stockholders are to be held following the fiscal year’s end, the specifics of which will be determined by the Board of Directors. Any business may transpire at these meetings without a specific agenda, unless it is required by law, the charter, or the bylaws.

Special meetings may be called by the Board of Directors, the Chair of the Board, or the President, maintaining flexibility in addressing matters that arise outside of the annual meetings.

The bylaws also address the process for nomination of directors, requiring timely notice and specification of the intended actions of stockholders seeking to propose business or nominate individuals for election.

Furthermore, the document touches upon the procedures for conducting meetings, determining quorums, and facilitating remote participation, especially under emergency conditions. It also outlines the structure of the Board of Directors, the conditions for vacating office, and the establishment of committees for more efficient management.

Officers’ roles and responsibilities, resignation protocols, removal processes, and the filling of vacancies were all clarified in the amended bylaws. The compensation of officers, their bonding requirements, and the duties of specific officer roles such as Chair of the Board, President, Vice Presidents, and Chief Executive Officer were also detailed.

In summary, the Fourth Amended and Restated Bylaws provide a comprehensive framework for the governance, operation, and decision-making processes within Western Asset Mortgage Opportunity Fund Inc., ensuring adherence to legal and regulatory standards.

The full details of the Fourth Amended and Restated Bylaws can be found in the Form 8-K filing by Western Asset Mortgage Opportunity Fund Inc. on the SEC’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Western Asset Mortgage Opportunity Fund’s 8K filing here.

About Western Asset Mortgage Opportunity Fund

Western Asset Mortgage Opportunity Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed Western Asset Management Company and Western Asset Management Company Limited. It invests in the fixed income markets of the United States.