U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 24F-2
ANNUAL NOTICE OF SECURITIES SOLD
PURSUANT TO RULE 24F-2
Read instructions at end of Form before preparing Form.
Please print or type.
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1. Name and address of issuer:
The Equitable Life Assurance Society of the United States
1290 Sixth Avenue, New York, NY 10104
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2. Name of each series or class of funds for which this notice is filed:
Separate Account I of The Equitable Life Assurance Society of the United States
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3. Investment Company Act File Number: 811-2581
Securities Act File Number: 333-17633
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4. Last day of fiscal year for which this notice is filed: December 31, 1996
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5. Check box if this notice is being filed more than 180 days after the close of
the issuer's fiscal year for purposes of reporting securities sold after the
close of the fiscal year but before termination of the issuer's 24f-2
declaration:
[ ]
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6. Date of termination of issuer's declaration under rule 24f-2(a)(1), if
applicable (see Instruction A.6):
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7. Number and amount of securities of the same class or series which had been
registered under the Securities Act of 1933 other than pursuant to rule 24f-2 in
a prior fiscal year, but which remained unsold at the beginning of the fiscal
year:
0
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8. Number and amount of securities registered during the fiscal year other than
pursuant to rule 24f-2:
0
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9. Number and aggregate sale price of securities sold during the fiscal year:
$31,684,296
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<PAGE>
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10. Number and aggregate sale price of securities sold during the fiscal year in
reliance upon registration pursuant to rule 24f-2:
$31,684,296
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11. Number and aggregate sale price of securities issued during the fiscal year
in connection with dividend reinvestment plans, if applicable (see Instruction
B.7):
0
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12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal
year in reliance on rule 24f-2 (from Item 10): $ 31,684,296
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(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans (form Item 11, if applicable): +
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(iii) Aggregate price of shares redeemed or repurchased during
the fiscal year (if applicable): - 69,455,473
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(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees pursuant to
rule 24e-2 (if applicable): +
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(v) Net aggregate price of securities sold and issued during the fiscal year in
reliance on rule 24 f-2 [line (i), plus line (ii), less line (iii), plus line
(iv)] (if applicable): 0
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(vi) Multiplier prescribed by Section 6(b) of the Securities Act
of 1933 or other applicable law or regulation
(see Instruction C.6): x 0.0003448
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(vii) Fee due [line (i) multiplied by line (vi)]: $ 0
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Instruction: Issuers should complete lines (ii), (iii), (iv), and (v) only if
the form is being filed within 60 days after the close of the issuer's fiscal
year. See Instruction C.3.
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13. Check box if fees are being remitted to the Commission's lockbox depository
as described in section 3a of the Commission's Rules of Informal and Other
Procedures (17 CFR 202.3a).
[ ]
Date of mailing or wire transfer of filing fees to the Commission's lockbox
depository:
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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 (Signature and Title)* /s/ Samuel B. Shlesinger
Senior Vice President
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Date February 27, 1997
* Please print the name and title of the signing officer below the signature.
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Mary P. Breen
Vice President
and Associate General Counsel
[EQUITABLE - MEMBER OF THE GLOBAL AXA GROUP LOGO] (212) 314-3815
Fax: (212) 707-1882
LAW DEPARTMENT
February 27, 1997
The Equitable Life Assurance Society of the United States
1290 Avenue of the Americas
New York, New York 10104
Dear Sirs:
This opinion is furnished in connection with the filing by The
Equitable Life Assurance Society of the United States ("Equitable") of a Notice
(the "Notice") pursuant to Rule 24f-2 (the "Rule") under the Investment Company
Act of 1940 relating to the registration by Equitable and its Separate Account I
("Separate Account I") under the Securities Act of 1933 (the "1933 Act") of an
indefinite amount of interests ("Interests") to be issued under variable life
insurance policies previously issued by Equitable Variable Life Insurance
Company ("Equitable Variable") (the "Policies"). Equitable Variable, a
wholly-owned subsidiary of Equitable, was merged with and into Equitable on
January 1, 1997 (the "Merger"). Pursuant to the Merger, Equitable became the
depositor of Separate Account I and the Policies became obligations of
Equitable.
An indefinite amount of Interests was registered by Equitable Variable
and Separate Account I in the filing under the 1933 Act of Post-Effective
Amendment No. 11 to Registration Statement No. 2-54105 on Form S-6 (the
"Equitable Variable Registration Statement"), which became effective on April
30, 1981. On December 11, 1996 a new registration statement relating to the
Interests was filed by Equitable and Separate Account I in preparation for the
Merger (the "Equitable Registration Statement"). The Equitable Registration
Statement was declared effective on December 19, 1996 under the new registration
number 333-17633.
The Policies are designed to provide life insurance protection for the
whole of life under the plans and arrangements described in the Prospectuses and
Prospectus Supplements included in the Registration Statements (the
"Prospectuses").
I have examined all such corporate records of Equitable Variable,
Equitable, Separate Account I and such other documents and such laws as I
consider appropriate as a basis for the opinion hereinafter expressed. On the
basis of such examination, it is my opinion that:
THE EQUITABLE LIFE ASSURANCE SOCIETY
1290 AVENUE OF THE AMERICAS, NEW YORK, NEW YORK 10104
<PAGE>
The Equitable Life Assurance Society of the United States
February 27,1997
Page 2
1. Equitable is a corporation duly organized and validly existing under
the laws of the State of New York.
2. Separate Account I was duly established and is maintained by
Equitable pursuant to the laws of the State of New York, under which income,
gains and losses, whether or not realized, from assets allocated to Separate
Account I, are, in accordance with the Policies, credited to or charged against
such account without regard to other income, gains or losses of Equitable.
3. The assets of Separate Account I are owned by Equitable; Equitable
is not a trustee with respect thereto. The Policies provide that the portion of
the assets of Separate Account I equal to the reserves and other Policy
liabilities with respect to Separate Account I will not be chargeable with
liabilities arising out of any other business Equitable may conduct and that
Equitable reserves the right to transfer assets of Separate Account I in excess
of such reserves and Policy liabilities to the general account of Equitable.
4. The Policies (including any Interests duly credited thereunder) have
been duly authorized by Equitable and each of the Policies (including any such
Interests) constitutes a validly issued and binding obligation of Equitable in
accordance with its terms. Purchasers of the Policies are subject only to the
deductions, charges and fees set forth in the Prospectuses.
Yours very truly,
/s/ Mary P. Breen
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Mary P. Breen
