FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending: / / (a)
or fiscal year ending: 12/31/99 (b)
Report for the transition period ending: / / (c)
[If transition report also complete (a) or (b) above]
Is this an amendment to a previous filing (Y/N): N
Those items or sub-items with a box "[/]" after the term number should be
completed only if the answer has changed from the previous filing on this form.
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1. A. Registrant Name: SOUTHLAND SEPARATE ACCOUNT L1
B. File Number: 811-9106
C. Telephone Number: (770) 980-5100
2. A. Street: 5780 POWERS FERRY ROAD
B. City: ATLANTA
C. State: GEORGIA
D. Zip Code: 30327 Zip Ext: 4390
E. Foreign Country: Postal Code:
3. Is this the first filing on this form by Registrant? (Y/N) N
4. Is this the last filing on this form by Registrant? (Y/N) N
5. Is Registrant a small business investment company (SBIC)? (Y/N) N
[If answer is "Y", complete only items 89 through 110.]
6. Is Registrant a unit investment trust (UIT)? (Y/N) Y
[If answer is "Y", complete only items 111 through 132.]
<PAGE>
File Number 811-9106
For period ending 12/31/99
UNIT INVESTMENT TRUSTS
111. A. [/] Depositor Name:
B. [/] File Number (If any):
C. [/] City: State: Zip Code: Zip Ext:
112. A. [/] Sponsor Name:
B. [/] File Number (If any):
C. [/] City: Denver State: Zip Code: Zip Ext.:
113. A. [/] Trustee Name:
B. [/] City: State: Zip Code: Zip Ext.:
114. A. [/] Principal Underwriter:
B. [/] File Number:
C: [/] City: State: Zip Code: Zip Ext.:
115. A. [/] Independent Public Account Name:
B: [/] City: State: Zip Code: Zip Ext.:
116. Family of investment companies information:
A. [/] Is Registrant part of a family of investment companies? (Y/N)
B. [/] Identify the family in 10 letters:
(NOTE: In filing this form, use this identification consistently for all
investment companies in family. This designation is for purposes of this
form only.)
117. A. [/] Is Registrant a separate account of an insurance company? (Y/N)
If answer is "Y", are any of the following types of contracts funded
by the Registrant:
B. [/] Variable annuity contracts (Y/N)
C. [/] Scheduled premium variable life contracts (Y/N)
D. [/] Flexible premium variable life contracts (Y/N)
E. [/] Other types of insurance policies registered under the Securities
Act of 1933? (Y/N)
118. [/] State the number of series existing at the end of the period that had
securities registered under the Securities Act of 1933.
119. [/] State the number of new series for which registration statements under
the Securities Act of 1933 became effective during the period
<PAGE>
File Number 811-9106
For period ending 12/31/99
120. [/] State the total value of the portfolio securities on
the date of deposit of the new series included in item
119 ($000 omitted)
121. [/] State the number of series for which a current
prospectus was in existence at the end of the period
122. [/] State the number of existing series for which
additional units were registered under the Securities
Act of 1933 during the current period.
123. [/] State the total value of the additional units 0
considered in answering item 122 ($000 omitted)
124. [/] State the total value of units of prior series that 0
were placed in the portfolios of subsequent series
during the current period (the value of these units is
to be measured on the date they were placed in the
subsequent series
125. [/] State the total dollar amount of sales loads $2,742
collected (before reallowances to other brokers or
dealers) by Registrant's principal underwriter and any
underwriter which is an affiliated person of the
principal underwriter during the current period solely
from the sale of the units of all series of Registrant
($000's omitted)
126. Of the amount shown in item 125, state the total dollar $ 0
amount of sales loads collected from secondary market
operations in Registrant's units (include the sales
loads, if any, collected on units of a prior series
placed in the portfolio of a subsequent series)
127. List opposite the appropriate description below the
number of series whose portfolios are invested
primarily (based upon a percentage of NAV) in each type
of security shown, the aggregate total assets at market
value as of a date a or near the end of the current
period of each such group of series and the total
income distributions made by each such group of series
during the current period (excluding distributions of
realized gains, if any):
<TABLE>
<S> <C> <C> <C>
Number Total Assets Total Income Distributions
of Series ($000's omitted) ($000's omitted)
Investing
A. U.S. Treasury direct issues $ $
B. U.S. Government agency $ $
C. State and municipal tax-free $ $
D. Public Utility debt $ $
E. Brokers or dealers debt or debt of brokers' or dealers' $ $
parent
F. All other corporate intermediate & long-term debt $ $
G. All other corporate short-term debt $ $
</TABLE>
<PAGE>
File Number 811-9106
For period ending 12/31/99
<TABLE>
<S> <C> <C> <C>
H. Equity securities of brokers or dealer or parent of $ $
brokers or dealers
I. Investment company equity securities 1 $63,122 $ 0
J. All other equity securities $ $
K Other securities $ $
L. Total Assets of all series of Registrant 1 $63,122 $ 0
</TABLE>
128. [/] Is the timely payment of principal and interest on any
of the portfolio securities held by any of Registrant's
series at the end of the current prior insurance or
guaranteed by an entity other than the issuer? [If answer
is "N" (No), go to item 131.]
129. [/] Is the issuer of any instrument covered in item 128
delinquent or in default as to payment of principal or
interest at the end of the current period?
130. [/] In computations of NAV or offering price per unit, is
any part of the value attributed to instruments identified
in item 129 derived from insurance or guarantees?
131. Total expense incurred by all series of Registrant during $6,914
the current reporting period ($000's omitted)
132. [/] List the "811" Investment Company Act of 1940)
registration number for all Series of Registrant that are
being included in this filing
<PAGE>
File Number 811-9106
For period ending 12/31/99
This Report is signed on behalf of the Registrant in the City of Denver and
State of Colorado on the 14th day of March, 2000.
Name of Registrant: Southland Separate Account L1
Name of Depositor: Southland Life Insurance Company
By: /s/ Stephen M. Christopher
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Stephen M. Christopher
President
Witness: /s/ Anna M. Kautzman
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Anna M. Kautzman
Associate General Counsel
