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U.S. 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:
Advance Capital I, Inc.
One Towne Square, Suite 444
Southfield, MI 48076
2. Name of each series or class of funds for which this notice is filed:
Class A shares of common stock - Equity Growth Fund
Class B shares of common stock - Bond Fund
Class C shares of common stock - Balanced Fund
Class D shares of common stock - Long Term Income Fund
Class E shares of common stock - Retirement Income Fund
3. Investment Company Act File Number:
811-5127
Securities Act File Number:
33-13754
4. Last day of fiscal year for which this notice is filed:
12/31/96
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:
[ ]
6. Date of termination of issuer's declaration under rule 24f-2(a)(1), if
applicable (see instruction A.6):
n/a
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:
None
8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2:
None
9. Number and aggregate sale price of securities sold during the fiscal year:
Class A: $10,814,067.09 792,133.834 shares
Class B: $ 994,394.29 95,644.361 shares
Class C: $18,213,807.04 1,394,920.494 shares
Class D: $ 129,815.40 12,801.261 shares
Class E: $51,322,788.89 5,053,126.031 shares
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Total: $81,474,872.71
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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:
Class A: $10,814,067.09 792,133.834 shares
Class B: $ 994,394.29 95,644.361 shares
Class C: $18,213,807.04 1,394,920.494 shares
Class D: $ 129,815.40 12,801.261 shares
Class E: $51,322,788.89 5,053,126.031 shares
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Total: $81,474,872.71
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):
n/a
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): $81,474,872.71
(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans (from item 11, if applicable): 0.00
(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year (if applicable): 27,506,751.90
(iv) Aggregate price of shares redeemed or repurchased
and previously applied as a reduction to filing
fees pursuant to rule 24e-2 (if applicable): 0.00
(v) Net aggregate price of securities sold and issued
during the fiscal year in reliance on rule 24f-2 (line
(i), plus line (ii), less line (iii), plus line (iv))
(if applicable): 53,968,120.81
(vi) Multiplier prescribed by Section 6(b) of the Securities
Act of 1933 or other applicable law or regulation (see
Instruction C.6): 1/3300
(vii) Fee due (line (i) or line (v) multiplied by line (vi)): $16,353.98
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).
[x]
Date of mailing or wire transfer of filing fees to the Commission's
lockbox depository:
02/18/97
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/Robert J. Cappelli
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Robert J. Cappelli, Vice President & Treasurer
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Date 02/20/97
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[Berry, Moorman, King & Hudson Letterhead]
Detroit Office
February 6, 1997
Advance Capital I, Inc.
One Towne Square, Suite 444
Southfield, MI 48076
Re: Rule 24f-2 Notice for Advance Capital I, Inc.
Class A Common Stock (Registration No. 33-13754)
Gentlemen:
We have acted as counsel for Advance Capital I, Inc., a Maryland
corporation (the "Fund"), in connection with the registration of
792,133.834 shares of its Class A Common Stock under the
Securities Act of 1933. During the Fund's fiscal year ended
December 31, 1996 (the "Fiscal Year"), all of said shares were
registered pursuant to Rule 24f-2 under the Investment Company
Act of 1940.
In giving the opinion stated below, we have reviewed the Fund's
Articles of Incorporation, its Bylaws, resolutions adopted by
its Board of Directors and shareholders and such other legal and
factual matters as we have deemed appropriate. At all times
during the Fiscal Year, the Fund was authorized to issue a total
of one billion shares of capital stock, par value $.001 per
share, of which, at the close of the Fiscal Year, two hundred
million shares were classified as Class A common Stock, two
hundred million shares were classified as Class B Common Stock,
two hundred million shares were classified as Class C Common
Stock, two hundred million shares were classified as Class D
Common Stock and two hundred million shares were classified as
Class E Common Stock. We have been informed by the Fund that at
no time during the Fiscal Year did the number of issued and
outstanding shares of the Fund's Class A Common Stock exceed the
number of such shares that the Fund was then authorized to issue.
Based on the foregoing, we are of the opinion that the
aforementioned shares of Class A Common Stock of the Fund
registered pursuant to Rule 24f-2 during the Fiscal Year were,
when issued for payment as described in the Fund's prospectus,
legally issued, fully paid and non-assessable by the Fund.
Members of Berry, Moorman, King & Hudson and their spouses and
families beneficially own shares in the Fund in the aggregate
amount of less than 1% of its outstanding shares. We
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Advance Capital I, Inc.
February 6, 1997
Page 2
hereby consent to the filing of this opinion with the Securities
and Exchange Commission as part of the Fund's Rule 24f-2 Notice.
Very truly yours,
BERRY, MOORMAN, KING & HUDSON, P.C.
By: /s/Robert A. Hudson
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Robert A. Hudson
RAH:lal:gam
<PAGE>
[Berry, Moorman, King & Hudson Letterhead]
Detroit Office
February 6, 1997
Advance Capital I, Inc.
One Towne Square, Suite 444
Southfield, MI 48076
Re: Rule 24f-2 Notice for Advance Capital I, Inc.
Class B Common Stock (Registration No. 33-13754)
Gentlemen:
We have acted as counsel for Advance Capital I, Inc., a Maryland
corporation (the "Fund"), in connection with the registration of
95,644.361 shares of its Class B Common Stock under the
Securities Act of 1933. During the Fund's fiscal year ended
December 31, 1996 (the "Fiscal Year"), all of said shares were
registered pursuant to Rule 24f-2 under the Investment Company
Act of 1940.
In giving the opinion stated below, we have reviewed the Fund's
Articles of Incorporation, its Bylaws, resolutions adopted by
its Board of Directors and shareholders and such other legal and
factual matters as we have deemed appropriate. At all times
during the Fiscal Year, the Fund was authorized to issue a total
of one billion shares of capital stock, par value $.001 per
share, of which, at the close of the Fiscal Year, two hundred
million shares were classified as Class A common Stock, two
hundred million shares were classified as Class B Common Stock,
two hundred million shares were classified as Class C Common
Stock, two hundred million shares were classified as Class D
Common Stock and two hundred million shares were classified as
Class E Common Stock. We have been informed by the Fund that at
no time during the Fiscal Year did the number of issued and
outstanding shares of the Fund's Class B Common Stock exceed the
number of such shares that the Fund was then authorized to issue.
Based on the foregoing, we are of the opinion that the
aforementioned shares of Class B Common Stock of the Fund
registered pursuant to Rule 24f-2 during the Fiscal Year were,
when issued for payment as described in the Fund's prospectus,
legally issued, fully paid and non-assessable by the Fund.
Members of Berry, Moorman, King & Hudson and their spouses and
families beneficially own shares in the Fund in the aggregate
amount of less than 1% of its outstanding shares. We
<PAGE>
Advance Capital I, Inc.
February 6, 1997
Page 2
hereby consent to the filing of this opinion with the Securities
and Exchange Commission as part of the Fund's Rule 24f-2 Notice.
Very truly yours,
BERRY, MOORMAN, KING & HUDSON, P.C.
By: /s/Robert A. Hudson
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Robert A. Hudson
RAH:lal:gam
<PAGE>
[Berry, Moorman, King & Hudson Letterhead]
Detroit Office
February 6, 1997
Advance Capital I, Inc.
One Towne Square, Suite 444
Southfield, MI 48076
Re: Rule 24f-2 Notice for Advance Capital I, Inc.
Class C Common Stock (Registration No. 33-13754)
Gentlemen:
We have acted as counsel for Advance Capital I, Inc., a Maryland
corporation (the "Fund"), in connection with the registration of
1,394,920.494 shares of its Class C Common Stock under the
Securities Act of 1933. During the Fund's fiscal year ended
December 31, 1996 (the "Fiscal Year"), all of said shares were
registered pursuant to Rule 24f-2 under the Investment Company
Act of 1940.
In giving the opinion stated below, we have reviewed the Fund's
Articles of Incorporation, its Bylaws, resolutions adopted by
its Board of Directors and shareholders and such other legal and
factual matters as we have deemed appropriate. At all times
during the Fiscal Year, the Fund was authorized to issue a total
of one billion shares of capital stock, par value $.001 per
share, of which, at the close of the Fiscal Year, two hundred
million shares were classified as Class A common Stock, two
hundred million shares were classified as Class B Common Stock,
two hundred million shares were classified as Class C Common
Stock, two hundred million shares were classified as Class D
Common Stock and two hundred million shares were classified as
Class E Common Stock. We have been informed by the Fund that at
no time during the Fiscal Year did the number of issued and
outstanding shares of the Fund's Class C Common Stock exceed the
number of such shares that the Fund was then authorized to issue.
Based on the foregoing, we are of the opinion that the
aforementioned shares of Class C Common Stock of the Fund
registered pursuant to Rule 24f-2 during the Fiscal Year were,
when issued for payment as described in the Fund's prospectus,
legally issued, fully paid and non-assessable by the Fund.
Members of Berry, Moorman, King & Hudson and their spouses and
families beneficially own shares in the Fund in the aggregate
amount of less than 1% of its outstanding shares. We
<PAGE>
Advance Capital I, Inc.
February 6, 1997
Page 2
hereby consent to the filing of this opinion with the Securities
and Exchange Commission as part of the Fund's Rule 24f-2 Notice.
Very truly yours,
BERRY, MOORMAN, KING & HUDSON, P.C.
By: /s/Robert A. Hudson
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Robert A. Hudson
RAH:lal:gam
<PAGE>
[Berry, Moorman, King & Hudson Letterhead]
Detroit Office
February 6, 1997
Advance Capital I, Inc.
One Towne Square, Suite 444
Southfield, MI 48076
Re: Rule 24f-2 Notice for Advance Capital I, Inc.
Class D Common Stock (Registration No. 33-13754)
Gentlemen:
We have acted as counsel for Advance Capital I, Inc., a Maryland
corporation (the "Fund"), in connection with the registration of
12,801.261 shares of its Class D Common Stock under the
Securities Act of 1933. During the Fund's fiscal year ended
December 31, 1996 (the "Fiscal Year"), all of said shares were
registered pursuant to Rule 24f-2 under the Investment Company
Act of 1940.
In giving the opinion stated below, we have reviewed the Fund's
Articles of Incorporation, its Bylaws, resolutions adopted by
its Board of Directors and shareholders and such other legal and
factual matters as we have deemed appropriate. At all times
during the Fiscal Year, the Fund was authorized to issue a total
of one billion shares of capital stock, par value $.001 per
share, of which, at the close of the Fiscal Year, two hundred
million shares were classified as Class A common Stock, two
hundred million shares were classified as Class B Common Stock,
two hundred million shares were classified as Class C Common
Stock, two hundred million shares were classified as Class D
Common Stock and two hundred million shares were classified as
Class E Common Stock. We have been informed by the Fund that at
no time during the Fiscal Year did the number of issued and
outstanding shares of the Fund's Class D Common Stock exceed the
number of such shares that the Fund was then authorized to issue.
Based on the foregoing, we are of the opinion that the
aforementioned shares of Class D Common Stock of the Fund
registered pursuant to Rule 24f-2 during the Fiscal Year were,
when issued for payment as described in the Fund's prospectus,
legally issued, fully paid and non-assessable by the Fund.
Members of Berry, Moorman, King & Hudson and their spouses and
families beneficially own shares in the Fund in the aggregate
amount of less than 1% of its outstanding shares. We
<PAGE>
Advance Capital I, Inc.
February 6, 1997
Page 2
hereby consent to the filing of this opinion with the Securities
and Exchange Commission as part of the Fund's Rule 24f-2 Notice.
Very truly yours,
BERRY, MOORMAN, KING & HUDSON, P.C.
By: /s/Robert A. Hudson
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Robert A. Hudson
RAH:lal:gam
<PAGE>
[Berry, Moorman, King & Hudson Letterhead]
Detroit Office
February 6, 1997
Advance Capital I, Inc.
One Towne Square, Suite 444
Southfield, MI 48076
Re: Rule 24f-2 Notice for Advance Capital I, Inc.
Class E Common Stock (Registration No. 33-13754)
Gentlemen:
We have acted as counsel for Advance Capital I, Inc., a Maryland
corporation (the "Fund"), in connection with the registration of
5,053,126.031 shares of its Class E Common Stock under the
Securities Act of 1933. During the Fund's fiscal year ended
December 31, 1996 (the "Fiscal Year"), all of said shares were
registered pursuant to Rule 24f-2 under the Investment Company
Act of 1940.
In giving the opinion stated below, we have reviewed the Fund's
Articles of Incorporation, its Bylaws, resolutions adopted by
its Board of Directors and shareholders and such other legal and
factual matters as we have deemed appropriate. At all times
during the Fiscal Year, the Fund was authorized to issue a total
of one billion shares of capital stock, par value $.001 per
share, of which, at the close of the Fiscal Year, two hundred
million shares were classified as Class A common Stock, two
hundred million shares were classified as Class B Common Stock,
two hundred million shares were classified as Class C Common
Stock, two hundred million shares were classified as Class D
Common Stock and two hundred million shares were classified as
Class E Common Stock. We have been informed by the Fund that at
no time during the Fiscal Year did the number of issued and
outstanding shares of the Fund's Class E Common Stock exceed the
number of such shares that the Fund was then authorized to issue.
Based on the foregoing, we are of the opinion that the
aforementioned shares of Class E Common Stock of the Fund
registered pursuant to Rule 24f-2 during the Fiscal Year were,
when issued for payment as described in the Fund's prospectus,
legally issued, fully paid and non-assessable by the Fund.
Members of Berry, Moorman, King & Hudson and their spouses and
families beneficially own shares in the Fund in the aggregate
amount of less than 1% of its outstanding shares. We
<PAGE>
Advance Capital I, Inc.
February 6, 1997
Page 2
hereby consent to the filing of this opinion with the Securities
and Exchange Commission as part of the Fund's Rule 24f-2 Notice.
Very truly yours,
BERRY, MOORMAN, KING & HUDSON, P.C.
By: /s/Robert A. Hudson
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Robert A. Hudson
RAH:lal:gam
