UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer:
Southland Separate Account L1
5780 Powers Ferry Road
Atlanta, GA 30327
2. Name of each series or class of securities for which this Form is
filed:
Not Applicable
3. Investment Company Act File Number:
811-9106
Securities Act File Number:
33-97852
4.(a) Last day of fiscal year for which this Form is filed:
December 31
4.(b)[ ] Check box if this Form is being filed late (i.e., more than 90
days after the end of the issuer's fiscal year)
4.(c)[ ] Check box if this is the last time the issuer will be filing this Form.
<PAGE>
5. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal
year pursuant to section 24f-2:
$ 19,083,777
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(ii) Aggregate price of securities redeemed or repurchased during
the fiscal year:
$ 1,357,586
------------
(iii) Aggregate price of securities redeemed or repurchased during
any prior fiscal year ending no earlier than October 11,
1995 that were not previously used to reduce registration
fees payable to the Commission:
$ 250,833
------------
(iv) Total available redemption credits [add Items 5(ii) and 5(iii)]:
$ 1,608,419
------------
(v) Net sales -- if item 5(i) is greater than Item 5(iv)
[subtract Item 5(iv) from Item 5(i)]
$ 17,475,358
------------
(vi) Redemption credits available for use in future years -- if
Item 5(i) is less than Item 5(iv) [subtract Item 5(iv) from
item 5(i)]:
$( 0 )
------------
(vii) Multiplier for determining registration fee:
X .000278
-------
(viii) Registration fee due [multiply Item 5(v) by Item 5(vii)]
(enter "0" if no fee is due):
=$ 4,858.15
--------
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6. Prepaid Shares
If the response to Item 5(i) was determined by deducting an amount
of securities that were registered under the Securities Act of 1933
pursuant to rule 24e-2 as in effect before October 11, 1997, then
report the amount of securities (number of shares or other units)
deducted here:
If there is a number of shares or other units that were registered
pursuant to rule 24e-2 remaining unsold at the end of the fiscal
year for which this form is filed that are available for use by the
issuer in future fiscal years, then state that number here:
7. Interest due-- If this Form is being filed more than 90 days after
the end of the issuer's fiscal year:
+$ 0
-----------
8. Total of the amount of the registration fee due plus any interest
due [line 5(viii) plus line 7]:
=$ 4,858.15
-----------
9. Date the registration fee and any interest payment was sent to the
Commission's lockbox depository:
March 8, 1999
Method of Delivery:
[x] Wire Transfer
[ ] Mail or other means
SIGNATURES
This report has been signed below by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.
By: /s/: James D. Thompson
----------------------------------------------------------
James D. Thompson, President
Southland Life Insurance Company,
the Depositor of Southland Separate Account L1
Date: March 9, 1999
