MAXIM SERIES FUND INC
485BPOS, 1996-08-26
DRILLING OIL & GAS WELLS
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  As filed with the Securities and Exchange Commission on August
26, 1996

                         Registration No. 2-75503
                                                                  
                                                                  
                           

                    SECURITIES AND EXCHANGE COMMISSION
                          WASHINGTON, D.C.  20549

                                 FORM N-1A

    REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933       
 (X)

                         Pre-Effective Amendment No.   (  )     
                         Post-Effective Amendment No.  47(X)

                                  and/or
 
               REGISTRATION STATEMENT UNDER THE INVESTMENT 
                           COMPANY ACT OF 1940 

                              Amendment No.  47        (X)

                          MAXIM SERIES FUND, INC.
            (Exact Name of Registrant as Specified in Charter)
                           8515 E. Orchard Road
                        Englewood, Colorado  80111

    Registrant's Telephone Number, including Area Code:  (303)
689-3000

                              W. T. McCallum
                   President and Chief Executive Officer
                Great-West Life & Annuity Insurance Company
                           8515 E. Orchard Road
                        Englewood, Colorado  80111

                  (Name and Address of Agent for Service)

                       Copies of Communications to:
                         James F. Jorden, Esquire
                    Jorden Burt Berenson & Johnson, LLP
                      1025 Thomas Jefferson St. N. W.
                               Suite 400 East
                       Washington, D. C. 20007-0805
 
It is proposed that this filing will become effective (check
appropriate box)

                     immediately upon filing pursuant to paragraph
                     (b) of Rule 485
                 X   on September 25, 1996 pursuant to paragraph  
                     (b)(1)(v) of Rule 485
                     60 days after filing pursuant to paragraph   
                     (a)(1) of Rule 485
                     on            pursuant to paragraph (a)(1) of 
                     Rule 485
                     75 days after filing pursuant to paragraph   
                     (a)(2) of Rule 485
                     on            pursuant to paragraph (a)(2) of 
                     Rule 485.

                              If appropriate, check the following:

                 X   this post-effective amendment designates a new
                     effective date for a previously filed
                     post-effective amendment
The Registrant has previously filed a declaration of indefinite
registration of its shares pursuant to Rule 24f-2 under the
Investment Company Act of 1940.  The Rule 24F-2 Notice for
Registrant's fiscal year was filed February 27, 1996.
<PAGE>
     Parts A, B and C of Registrant's Post-Effective Amendment No.
46 under the Securities Act of 1933 and the Investment Company Act
of 1940, filed on June 14, 1996, are incorporated by reference
herein and this Post-Effective Amendment is being filed under Rule
485(b)(1)(v) under the Securities Act of 1933 for the sole purpose
of delaying the effectiveness of the above-referenced Amendment.

     This Post-Effective Amendment shall not supersede or effect
this Registration Statements as this Registration Statement applies
to the Money Market, Bond, Investment Grade Corporate Bond, U.S.
Government Securities, U.S. Government Mortgage Securities, Stock
Index, Small-Cap Index, Growth Index, Value Index, Total Return,
Short-Term Maturity Bond, Corporate Bond, Small-Cap Aggressive
Growth, Foreign Equity, Small-Cap Value, MidCap, International
Equity, Maxim T. Rowe Price Equity/Income, Maxim INVESCO ADR, Maxim
INVESCO Small-Cap Growth and Maxim Vista Growth & Income
Portfolios.<PAGE>

                           SIGNATURES

     As required by the Securities Act of 1933 and the Investment
Company Act of 1940, the Registrant certifies that it meets all the
requirements of this Registration Statement pursuant to Rule 485(b)
and has duly caused Post-Effective Amendment No. 47 to the
Registration Statement to be signed on its behalf, in the City of
Englewood, State of Colorado, on the  26th  day of August, 1996.

                              MAXIM SERIES FUND, INC.
                                   (Registrant)



                              By: /s/ J.D. Motz               
                                  President (J.D. Motz)

     Pursuant to the requirements of the Securities Act of 1933,
this Post-Effective Amendment No. 47 to the Registration Statement
has been signed below by the following persons in the capacities
and on the dates indicated.

Signature and Title                          Date



/s/ J.D. Motz                                     August 26, 1996
President  (J.D. Motz)             



/s/ D. Low                                        August 26, 1996
Director  (D. Low)



/s/ R. Jennings*                                  August 26, 1996
Director  (R. Jennings)



/s/ R.P. Koeppe*                                  August 26, 1996
Director (R.P. Koeppe)



/s/ J.D. Motz                                     August 26, 1996
Director  (J.D. Motz)


                               S-1





Signature and Title                          Date

    

/s/ S. Zisman*                                    August 26, 1996
Director (S. Zisman)



/s/ G.R. Derback                                  August 26, 1996
Treasurer  (G.R. Derback)



/s/ G.R. Derback                                  August 26, 1996
Principal Financial Officer
(G.R. Derback)



/s/ G.R. Derback                                  August 26, 1996
Principal Accounting Officer
(G.R. Derback)



*By:/s/ R.B. Lurie            
    R.B. Lurie
    Attorney-in-fact pursuant to Powers of Attorney filed under
    Post-Effective Amendment No. 19 to this Registration Statement.




















                               S-2


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