UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-8F
I. GENERAL IDENTIFYING INFORMATION
1. Reason fund is applying to deregister (check only one; for
descriptions, see Instruction 1 above):
[ ] Merger
[ ] Liquidation
[X] Abandonment of Registration (Note: Abandonments of
Registration answer only questions 1 through 15, 24 and 25 of
this form and complete verification at the end of the form.)
[ ] Election of status as a Business Development Company (Note:
Business Development Companies answer only questions 1 through
10 of this form and complete verification at the end of the
form.)
2. Name of fund: LEGACY BUILDER VARIABLE LIFE SEPARATE ACCOUNT
3. Securities and Exchange Commission File No.: 811-9115
4. Is this initial Form N-8F or an amendment to a previously filed
Form N-8F?
[X] Initial Application [ ] Amendment
5. Address of Principal Executive Office (include No. & Street, City,
State, Zip Code):
4333 EDGEWOOD ROAD, NE
CEDAR RAPIDS, IOWA 52499-0001
6. Name, address and telephone number of individual the Commission staff
should contact with any questions regarding this form:
PRISCILLA I. HECHLER
570 CARILLON PARKWAY
ST. PETERSBURG, FL 33716
727-299-1747
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7. Name, address and telephone number of individual or entity responsible
for maintenance and preservation of fund records in accordance with
rules 31a-1 and 31a-2 under the Act [17 CFR 270.31a-1,.31a-2]:
PFL LIFE INSURANCE COMPANY
4333 EDGEWOOD ROAD, NE
CEDAR RAPIDS, IOWA 52499-0001
1-800-525-6205
NOTE: Once deregistered, a fund is still required to maintain and preserve the
records described in rules 31a-1 and 31a-2 for the periods specified in those
rules.
8. Classification of fund (check only one):
[ ] Management company;
[X] Unit investment trust; or
[ ] Face-amount certificate company.
9. Subclassification if the fund is a management company (check only one):
[ ] Open-end [ ] Closed-end
10. State law under which the fund was organized or formed (e.g., Delaware,
Massachusetts):
IOWA
11. Provide the name and address of each investment adviser of the fund
(including sub-advisers) during the last five years, even if the fund's
contract with those advisers have been terminated:
THE FUND IS A UNIT INVESTMENT TRUST SEPARATE ACCOUNT AND DOES
NOT HAVE ITS OWN INVESTMENT ADVISERS OR INVESTMENT
SUB-ADVISERS.
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12. Provide the name and address of each principal underwriter of the fund
during the last five years, even if the fund's contracts with those
underwriters have been terminated:
AFSG SECURITIES CORPORATION (SINCE MAY 1999)
4333 EDGEWOOD ROAD, NE
CEDAR RAPIDS, IOWA 52499-0001
AEGON USA SECURITIES, INC.
4333 EDGEWOOD ROAD, NE
CEDAR RAPIDS, IOWA 52499-0001
13. If the fund is a unit investment trust ("UIT") provide:
(a) Depositor's name(s) and address(es):
PFL LIFE INSURANCE COMPANY
4333 EDGEWOOD ROAD, NE
CEDAR RAPIDS, IOWA 52499-0001
(b) Directors' name(s) and address(es):
<TABLE>
<CAPTION>
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NAME AND ADDRESS TITLE
---------------------------------------------------------------------------------------------
<S> <C>
Bart Herbert, Jr. Director, Chairman of the Board, and
1111 N. Charles Street Executive Vice President
Baltimore, MD 21201
---------------------------------------------------------------------------------------------
Larry N. Norman Director and President
4333 Edgewood Road, NE
Cedar Rapids, IA 52499-0001
---------------------------------------------------------------------------------------------
Patrick S. Baird Director, Senior Vice President and Chief
4333 Edgewood Road, NE Operating Officer
Cedar Rapids, IA 52499-0001
---------------------------------------------------------------------------------------------
Douglas C. Kolsrud Director, Senior Vice President, Chief
4333 Edgewood Road, NE Investment Officer and Corporate Actuary
Cedar Rapids, IA 52499-0001
---------------------------------------------------------------------------------------------
Craig D. Vermie Director, Vice President, Secretary and
4333 Edgewood Road, NE General Counsel
Cedar Rapids, IA 52499-0001
---------------------------------------------------------------------------------------------
</TABLE>
14. Is there a UIT registered under the Act that served as a vehicle for
investment in the fund (e.g., an insurance company separate account)?
[X] Yes [ ] No
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If Yes, for each UIT state:
Name(s): LEGACY BUILDER VARIABLE LIFE SEPARATE ACCOUNT
File No.: 811-9115
Business Address: 4333 EDGEWOOD ROAD, NE
CEDAR RAPIDS, IOWA 52499-0001
15. (a) Did the fund obtain approval from the board of directors
concerning the decision to engage in a Merger, Liquidation or
Abandonment of Registration?
[ ] Yes [X] No
If Yes, state the date on which the board vote took place:
If No, explain: SINCE ITS INCEPTION IN 1999, THE FUND HAS SOLD NO
POLICIES, AND HAS ACCUMULATED NO ASSETS. SINCE THE FUND IS NOT ACTIVELY
SELLING ITS SECURITIES, THE DEPOSITOR HAS MADE THE BUSINESS DECISION TO
DISCONTINUE THE FUND.
(b) Did the fund obtain approval from the shareholders concerning
the decision to engage in a Merger, Liquidation or Abandonment
of Registration?
[ ] Yes [X] No
If Yes, state the date on which the shareholder vote took place:
If No, explain: THE FUND HAS NEVER HAD ANY SHAREHOLDERS.
II. DISTRIBUTIONS TO SHAREHOLDERS
16. Has the fund distributed any assets to its shareholders in connection
with the Merger or Liquidation?
[ ] Yes [ ] No
(a) If Yes, list the date(s) on which the fund made those
distributions:
(b) Were the distributions made on the basis of net assets?
[ ] Yes [ ] No
(c) Were the distributions made pro rata based on share ownership?
[ ] Yes [ ] No
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(d) If No to (b) or (c) above, describe the method of
distributions to shareholders. For Mergers, provide the
exchange ratio(s) used and explain how it was calculated:
(e) Liquidations only:
Were any distributions to shareholders made in kind?
[ ] Yes [ ] No
If Yes, indicate the percentage of fund shares owned by affiliates, or
any other affiliation of shareholders:
17. Closed-End funds only:
Has the fund issued senior securities?
[ ] Yes [ ] No
If Yes, describe the method of calculating payments to senior
securityholders and distributions to other shareholders:
18. Has the fund distributed all of its assets to the fund's shareholders?
[ ] Yes [ ] No
If No,
(a) How many shareholders does the fund have as of the date this
form is filed?
(b) Describe the relationship of each remaining shareholder to the
fund:
19. Are there any shareholders who have not yet received distributions in
complete liquidation of their interests?
[ ] Yes [ ] No
If Yes, describe briefly the plans (if any) for distributing to, or
preserving the interests of, those shareholders:
III. ASSETS AND LIABILITIES
20. Does the fund have any assets as of the date this form is filed? (See
question 18 above)
[ ] Yes [ ] No
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If Yes,
(a) Describe the type and amount of each asset retained by the
fund as of the date this form is filed:
(b) Why has the fund retained the remaining assets?
(c) Will the remaining assets be invested in securities?
[ ] Yes [ ] No
21. Does the fund have any outstanding debts (other than face-amount
certificates if the fund is a face-amount certificate company) or any
other liabilities?
[ ] Yes [ ] No
If Yes,
(a) Describe the type and amount of each debt or other liability:
(b) How does the fund intend to pay these outstanding debts or
other liabilities?
IV. INFORMATION ABOUT EVENT(S) LEADING TO REQUEST FOR DEREGISTRATION
22. (a) List the expenses incurred in connection with the Merger or
Liquidation:
(i) Legal expenses:
(ii) Accounting expenses:
(iii) Other expenses (list and identify separately):
(iv) Total expenses (sum of lines (i)-(iii) above):
(b) How were these expenses allocated?
(c) Who paid those expenses?
(d) How did the fund pay for unamortized expenses (if any)?
23. Has the fund previously filed an application for an order of the
Commission regarding the Merger or Liquidation?
[ ] Yes [ ] No
If Yes, cite the release numbers of the Commission's notice and order
or, of no notice or order has been issued, the file number and date the
application was filed:
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V. CONCLUSION OF FUND BUSINESS
24. Is the fund a party to any litigation or administrative proceeding?
[ ] Yes [X] No
If Yes, describe the nature of any litigation or proceeding and the
position taken by the fund in that litigation:
25. Is the fund now engaged, or intending to engage, in any business
activities other than those necessary for winding up its affairs?
[ ] Yes [X] No
If Yes, describe the nature and extent of those activities:
VI. MERGERS ONLY
26. (a) State the name of the fund surviving the Merger:
(b) State the Investment Company Act file number of the fund
surviving the Merger:
(c) If the merger or reorganization agreement has been filed with
the Commission, state the file number(s), form type used and
date agreement was filed:
(d) If the merger or reorganization agreement has not been filed
with the Commission, provide a copy of the agreement as an
exhibit to this form.
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VERIFICATION
The undersigned states that (i) she has executed this Form N-8F application for
an order under section 8(f) of the Investment Company Act of 1940 on behalf of
Legacy Builder Variable Life Separate Account; (ii) she is the Assistant Vice
President and Assistant Secretary of PFL Life Insurance Company; and (iii) all
actions by shareholders, directors, and any other body necessary to authorize
the undersigned to execute and file this Form N-8F application have been taken.
The undersigned also states that the facts set forth in this form N-8F
application are true to the best of her knowledge, information and belief.
LEGACY BUILDER VARIABLE LIFE SEPARATE ACCOUNT
By: /s/ PRISCILLA I. HECHLER
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Name (Print): PRISCILLA I. HECHLER
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Title: ASSISTANT VICE PRESIDENT
AND ASSISTANT SECRETARY
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