Filed with the Securities and Exchange Commission on June 16, 2000
Registration No. 33-44436 Investment Company Act No. 811-5438
================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933*
Post-effective Amendment No. 17
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
Amendment No. 17
AMERICAN SKANDIA LIFE ASSURANCE CORPORATION VARIABLE ACCOUNT B
(CLASS 1 SUB-ACCOUNTS)
(Exact Name of Registrant)
AMERICAN SKANDIA LIFE ASSURANCE CORPORATION
(Name of Depositor)
ONE CORPORATE DRIVE, SHELTON, CONNECTICUT 06484
(Address of Depositor's Principal Executive Offices)
(203) 926-1888
(Depositor's Telephone Number)
M. PRISCILLA PANNELL, CORPORATE SECRETARY
One Corporate Drive, Shelton, Connecticut 06484
(Name and Address of Agent for Service of Process)
Copy To:
T. RICHARD KENNEDY, ESQ.
GENERAL COUNSEL
One Corporate Drive, Shelton, Connecticut 06484 (203)0925-6922
Approximate Date of Proposed Sale to the Public:
June 15, 2000 OR AS SOON AS PRACTICABLE FOLLOWING THE EFFECTIVE DATE OF THIS
REGISTRATION STATEMENT.
It is proposed that this filing become effective: (check appropriate space)
X immediately upon filing pursuant to paragraph (b) of Rule 485
on ______________ pursuant to paragraph (b) of rule 485
60 days after filing pursuant to paragraph (a)(i) of rule 485
on ______________pursuant to paragraph (a) (i) of Rule 485
75 days after filing pursuant to paragraph (a) (ii) of Rule 485
on ______________pursuant to paragraph (a) (ii) of Rule 485
If appropriate, check the following box:
This post-effective amendment designates a new effective
date for a previously filed post-effective amendment.
================================================================================
<TABLE>
<CAPTION>
CALCULATION OF REGISTRATION FEE UNDER THE SECURITIES ACT OF 1933
<S> <C> <C> <C> <C>
Proposed Proposed
Maximum Maximum
Amount Offering Aggregate Amount of
Title of Securities to be Price Offering Registration
to be Registered Registered Per Unit Price Fee
------------------------------------------------------------------------------------------------------------------------------------
American Skandia Life Assurance
Corporation Annuity Contracts Indefinite** Indefinite** $0
</TABLE>
================================================================================
**Pursuant to Rule 24f-2 of the Investment Company Act of 1940
--------------------------------------------------------------------------------
*The Prospectus contained in this Registration Statement also relates to annuity
contracts no longer being sold but for which additional Purchase Payments are
accepted and which are covered by earlier Registration Statement File Number
33-19363 and 33-47753.
-------------------------------------------------------------------------------
Registrant has registered an indefinite number or amount of securities under the
Securities Act of 1933 pursuant to Rule 24f-2 of the Investment Company Act of
1940. The Rule 24f-2 Notice for Registrant's fiscal year 1999 was filed within
90 days of the close of the fiscal year.
Asap
NOTE
Registrant is filing this Post-Effective Amendment to Registration Statement No.
33-44436 solely for the purpose of including in the Registration Statement a
Prospectus Supplement which adds a new variable sub-account to the variable
annuity contract described in the registration statement. Other than as set
forth herein, the Post-Effective Amendment does not amend or delete any other
part of this Registration Statement.
<PAGE>
ASAP-SUPP. (06/15/2000) 2 VAASAP 06/15/2000
Supplement To
American Skandia Advisor PlanSM NY Prospectus Dated May 1, 2000
Supplement dated June 15, 2000
This Supplement modifies the above-referenced prospectus by adding certain
information about a new variable investment option. This Supplement should be
retained with the current Prospectus for your variable annuity contract issued
by American Skandia Life Assurance Corporation ("American Skandia"). If you do
not have a current prospectus, please contact American Skandia at 1-800-SKANDIA.
ADDITIONAL VARIABLE INVESTMENT OPTION
Effective July 3, 2000, the underlying Portfolio shown below is being offered as
a Sub-account under your Annuity. You may not make an allocation to the
Sub-account until July 3, 2000.
<TABLE>
<CAPTION>
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Underlying Mutual Fund Portfolio Annual Expenses
(as a percentage of the average net assets of the underlying Portfolios)
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--------------------------------------------- ---------------- ------------- ------------ ----------------- ------------- ----------
Management Other 12b-1 Total Annual Fee Net
UNDERLYING PORTFOLIO Fees Expenses1 Fees Portfolio Waivers Annual
Operating and Fund
Expenses Expense Operating
Reimbursement2 Expenses2
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
First Trust(R)10 Uncommon Values 0.60% 144.82% 0.25% 145.67% 144.30% 1.37%
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</TABLE>
1 Included in the charge for Other Expenses is a fee of 0.325% of average
daily net assets paid to American Skandia to reimburse it for
administrative costs.
2 The percentages shown for the Portfolio are based on estimated amounts for
the current fiscal year. Actual expenses may be greater or lesser than
those shown. The investment advisor has agreed to waive fees and reimburse
expenses through September 30, 2001 in order to prevent Total Annual
Portfolio Operating Expenses (excluding brokerage expenses and
extraordinary expenses) from exceeding the amount shown above based on the
average daily net asset value of the respective Portfolio.
EXPENSE EXAMPLES
The Expense Example shown below is being added for the new Portfolio that is
being offered as a Sub-account under your Annuity as of July 3, 2000.
<TABLE>
<CAPTION>
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Expense Examples
(amounts shown are rounded to the nearest dollar)
------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------- ----- ----------------------------------------
If you surrender your Annuity at the If you do not surrender your
end of the applicable time period, you Annuity at the end of the applicable
would pay the following expenses on a time period or begin taking annuity
$1,000 investment, assuming 5% annual payments at such time, you would pay
return on assets: the following expenses on a $1,000
investment, assuming 5% annual return
on assets:
-------------------------------------------- ----- ----------------------------------------
-------------------------------------------- ----- ----------------------------------------
After: After:
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-------------------------------------------- --------- ---------- --------- ---------- --- ---------- ---------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Sub-Account: 1 Year 3 Years 5 Years 10 Years 1 Year 3 Years 5 Years 10 Years
--------------------------------------------
-------------------------------------------- --------- ---------- --------- ---------- --- ---------- ---------- --------- ---------
ASAP Product:
First Trust(R)10 Uncommon Values 104 149 191 318 29 89 151 318
--------------------------------------------
--------- ---------- --------- ---------- --- ---------- ---------- --------- ---------
PSA Prior Contract:
First Trust(R)10 Uncommon Values 99 139 181 318 29 89 151 318
--------------------------------------------
--------- ---------- --------- ---------- --- ---------- ---------- --------- ---------
ASAP Non-New York:
First Trust(R)10 Uncommon Values 104 149 191 318 29 89 151 318
-------------------------------------------- --------- ---------- --------- ---------- --- ---------- ---------- --------- ---------
</TABLE>
<PAGE>
The following underlying Portfolio is being added to the section entitled "What
are the Investment Objectives and Policies of the Portfolios?"
INVESTMENT OPTIONS
WHAT ARE THE INVESTMENT OBJECTIVES AND POLICIES OF THE PORTFOLIOS?
--------------------------------------------------------------------------------
The First Trust(R) 10 Uncommon Values Portfolio of the First Defined Portfolio
Fund LLC invests in the securities of a relatively few number of issuers. Since
the assets of the Portfolio are invested in a limited number of issuers, the net
asset value of the Portfolio may be more susceptible to a single adverse
economic, political or regulatory occurrence. The Portfolio may also be subject
to additional market risk due to its policy of investing based on an investment
strategy and generally not buying or selling securities in response to market
fluctuations. The Portfolio's relative lack of diversity and limited ongoing
management may subject Owners to greater market risk than other portfolios.
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
------------------- -------------------------------------------------------------------------------------------- -------------------
PORTFOLIO
STYLE/ INVESTMENT OBJECTIVES/POLICIES ADVISOR/
TYPE SUB-ADVISOR
------------------- -------------------------------------------------------------------------------------------- -------------------
------------------- -------------------------------------------------------------------------------------------- -------------------
<S> <C> <C>
First Trust(R)10 Uncommon Values: seeks to provide
above-average capital appreciation. The Portfolio pursues
its objective by investing primarily in the ten common
stocks selected by the Investment Policy Committee of Lehman
Brothers Inc. ("Lehman Brothers") with the assistance of the First Trust
STRATEGY Research Department of Lehman Brothers which, in their Advisors L.P.
opinion have the greatest potential for capital appreciation
during the next year. The stock selection date for the
Portfolio is on or about July 1st of each year. The holdings
for the Portfolio will be adjusted annually on or about July
1st in accordance with the selections of Lehman Brothers. At
that time, the percentage relationship among the shares of
each issuer held by the Portfolio is established. Through
the next one-year period that percentage will be maintained
as closely as practicable when the Portfolio makes
subsequent purchases and sales of the securities.
------------------- -------------------------------------------------------------------------------------------- -------------------
</TABLE>
The First Trust(R) 10 Uncommon Values portfolio is not sponsored or created by
Lehman Brothers, Inc. ("Lehman Brothers"). Lehman Brothers' only relationship to
First Trust is the licensing of certain trademarks and trade names of Lehman
Brothers and of the "10 Uncommon Values" which is determined, composed and
calculated by Lehman Brothers without regard to First Trust or the First
Trust(R) 10 Uncommon Values portfolio.
PART C
OTHER INFORMATION
Item 24. Financial Statements and Exhibits:
(a) All financial statements are included in Parts A & B of this Registration
Statement.
(b) Exhibits are attached as indicated.
(1) Copy of the resolution of the board of directors of Depositor
authorizing the establishment of the Registrant for Separate
Account B filed via EDGAR with Post-Effective Amendment No. 6
to Registration Statement No. 33-87010, filed March 2, 1998.
(2) Not applicable. American Skandia Life Assurance Corporation
maintains custody of all assets.
(3) (a) Form of Revised Principal Underwriting Agreement
between American Skandia Life Assurance Corporation
and American Skandia Marketing, Incorporated,
formerly Skandia Life Equity Sales Corporation filed
via EDGAR with Post-Effective Amendment No. 6 to
Registration Statement No. 33-87010, filed March 2,
1998.
(b) Form of Revised Dealer Agreement filed via EDGAR with
Post-Effective Amendment No. 7 to Registration
Statement No. 33-87010, filed April 24, 1998.
(4) (a) Copy of the form of the Annuity filed via
Edgar with Post-Effective Amendment No. 13 to
Registration Statement No. 33-44436, filed
April 29, 1997.
(b) Copy of Guaranteed Minimum Death Benefit Endorsement
filed via EDGAR with Post-Effective Amendment No. 8
to Registration Statement No. 33-87010, filed April
26, 1999.
(c) Copy of Performance-related Benefits and First Year
Credits Endorsement filed via EDGAR with Post-
Effective Amendment No. 8 to Registration Statement
No. 33-87010, filed April 26, 1999.
(5) A copy of the application form used with the Annuity provided
in response to (4) above filed via EDGAR with Post-Effective
Amendment No. 6 to Registration Statement No. 33-87010, filed
March 2, 1998.
(6) (a) Copy of the certificate of incorporation of American
Skandia Life Assurance Corporation filed via EDGAR
with Post-Effective Amendment No. 6 to Registration
Statement No. 33-87010, filed March 2, 1998.
(b) Copy of the By-Laws of American Skandia Life
Assurance Corporation filed via EDGAR with
Post-Effective Amendment No. 6 to Registration
Statement No. 33-87010, filed March 2, 1998.
(7) (a) Annuity Reinsurance Agreement between Depositor
and Transamerica Occidental Life Insurance Company
effective April 1, 1993 filed via EDGAR with
Post-effective Amendment No. 12 to Registration
Statement No. 33-44436, filed April 29, 1996.
(b) Annuity Reinsurance Agreement between Depositor and
Transamerica Occidental Life Assurance Company
effective January 1, 1994 filed via EDGAR with
Post-effective Amendment No. 12 to Registration
Statement No. 33-44436, filed April 29, 1996.
(c) Amendment No. 1 to Annuity Reinsurance Agreement
between Depositor and Transamerica Occidental Life
Insurance Company referenced in 7(a) above effective
January 1, 1994. Filed via EDGAR with Post-effective
Amendment No. 12 to Registration Statement No.
33-44436, filed April 29, 1996
(d) Annuity Reinsurance Agreement between Depositor and
Connecticut General Life Insurance Company effective
January 1, 1995. Filed via EDGAR with Post-effective
Amendment No. 12 to Registration Statement No.
33-44436, filed April 29, 1996
(8) Agreements between Depositor and:
(a) Neuberger&Berman Advisers Management Trust filed Via
EDGAR with Post-effective Amendment No. 4 to
Registration Statement No. 33-87010, filed February
25, 1997.
(b) The Alger American Fund filed via EDGAR with
Post-Effective Amendment No. 6 to Registration
Statement No. 33-87010, filed March 2, 1998.
(c) American Skandia Trust filed Via EDGAR with
Post-effective Amendment No. 4 to Registration
Statement No. 33-87010, filed February 25, 1997 (At
such time, what later became American Skandia Trust
was known as the Henderson Global Asset Trust).
(d) The Montgomery Funds III filed via EDGAR in the
Initial Registration Statement to Registration
Statement No. 333-08853, filed July 25, 1996.
(e) Rydex Variable Trust filed via EDGAR with Post-
Effective No. 8 to Registration Statement No.
33-87010, filed April 26, 1999.
(f) First Defined Portfolio Fund LLC filed via EDGAR with
Post-Effective Amendment No. 7 to Registration
Statement No. 33-86866, filed April 26, 2000.
(g) Evergreen Variable Annuity Trust filed via EDGAR with
Post-Effective Amendment No. 9 to Registration
Statement No. 33-87010, filed April 26, 2000.
(h) INVESCO Variable Investment Funds, Inc. filed via
EDGAR with Post-Effective Amendment No. 9 to
Registration Statement No. 33-87010, filed April 26,
2000.
(i) ProFunds VP filed via EDGAR with Post-Effective
Amendment No. 9 to Registration Statement No.
33-87010, filed April 26, 2000.
(9) Opinion and consent of Counsel FILED HEREWITH
(10) Consent of Ernst & Young LLP FILED HEREWITH
(11) Not applicable.
(12) Not applicable.
(13) Calculation of Performance Information for Advertisement of
Performance filed via EDGAR with Post-effective Amendment No.
12 to Registration Statement No. 33-44436, filed April 29,
1996
(14) Financial Data Schedule
Item 25. Directors and Officers of the Depositor: The Directors and Officers of
the Depositor are shown in Part A.
Item 26. Persons Controlled by or Under Common Control with the Depositor or
Registrant: The Depositor does not directly or indirectly control any person.
The following persons are under common control with the Depositor by American
Skandia Inc.:
(1) American Skandia Information Services and Technology
Corporation ("ASIST"): The organization is a general business
corporation organized in the State of Delaware. Its primary
purpose is to provide various types of business services to
American Skandia Inc. and all of its subsidiaries including
computer systems acquisition, development and maintenance,
human resources acquisition, development and management,
accounting and financial reporting services and general office
services.
(2) American Skandia Marketing, Incorporated ("ASM, Inc."): The
organization is a general business corporation organized in
the State of Delaware. It was formed primarily for the purpose
of acting as a broker-dealer in securities. It acts as the
principal "underwriter" of annuity contracts deemed to be
securities, as required by the Securities and Exchange
Commission, which insurance policies are to be issued by
American Skandia Life Assurance Corporation. It provides
securities law supervisory services in relation to the
marketing of those products of American Skandia Life Assurance
Corporation registered as securities. It also provides such
services in relation to marketing of certain public mutual
funds. It also has the power to carry on a general financial,
securities, distribution, advisory, or investment advisory
business; to act as a general agent or broker for insurance
companies and to render advisory, managerial, research and
consulting services for maintaining and improving managerial
efficiency and operation.
(3) American Skandia Investment Services, Incorporated ("ASISI"):
The organization is a general business corporation organized
in the state of Connecticut. The organization is authorized to
provide investment service and investment management advice in
connection with the purchasing, selling, holding or exchanging
of securities or other assets to insurance companies,
insurance-related companies, mutual funds or business trusts.
Its primary role is expected to be as investment manager for
certain mutual funds to be made available primarily through
the variable insurance products of American Skandia Life
Assurance Corporation.
(4) Skandia Vida: This subsidiary American Skandia Life Assurance
Corporation was organized in March, 1995, and began operations
in July, 1995. It offers investment oriented life insurance
products designed for long-term savings through independent
banks and brokers in Mexico.
Item 27. Number of Contract Owners: As of December 31, 1999, there were 60,083
owners of Annuities.
Item 28. Indemnification: Under Section 33-320a of the Connecticut General
Statutes, the Depositor must indemnify a director or officer against judgments,
fines, penalties, amounts paid in settlement and reasonable expenses including
attorneys' fees, for actions brought or threatened to be brought against him in
his capacity as a director or officer when certain disinterested parties
determine that he acted in good faith and in a manner he reasonably believed to
be in the best interests of the Depositor. In any criminal action or proceeding,
it also must be determined that the director or officer had no reason to believe
his conduct was unlawful. The director or officer must also be indemnified when
he is successful on the merits in the defense of a proceeding or in
circumstances where a court determines that he is fairly and reasonable entitled
to be indemnified, and the court approves the amount. In shareholder derivative
suits, the director or officer must be finally adjudged not to have breached
this duty to the Depositor or a court must determine that he is fairly and
reasonably entitled to be indemnified and must approve the amount. In a claim
based upon the director's or officer's purchase or sale of the Registrants'
securities, the director or officer may obtain indemnification only if a court
determines that, in view of all the circumstances, he is fairly and reasonably
entitled to be indemnified and then for such amount as the court shall
determine. The By-Laws of American Skandia Life Assurance Corporation ("ASLAC")
also provide directors and officers with rights of indemnification, consistent
with Connecticut Law.
The foregoing statements are subject to the provisions of Section 33-320a.
Directors and officers of ASLAC and ASM, Inc. can also be indemnified pursuant
to indemnity agreements between each director and officer and American Skandia
Inc., a corporation organized under the laws of the state of Delaware. The
provisions of the indemnity agreement are governed by Section 45 of the General
Corporation Law of the State of Delaware.
The directors and officers of ASLAC and ASM, Inc. are covered under a directors
and officers liability insurance policy issued by an unaffiliated insurance
company to Skandia Insurance Company Ltd., their ultimate parent. Such policy
will reimburse ASLAC or ASM, Inc., as applicable, for any payments that it shall
make to directors and officers pursuant to law and, subject to certain
exclusions contained in the policy, will pay any other costs, charges and
expenses, settlements and judgments arising from any proceeding involving any
director or officer of ASLAC or ASM, Inc., as applicable, in his or her past or
present capacity as such.
Registrant hereby undertakes as follows: Insofar as indemnification for
liabilities arising under the Securities Act of 1933 (the "Act") may be
permitted to directors, officers and controlling persons of Registrant pursuant
to the foregoing provisions, or otherwise, Registrant has been advised that in
the opinion of the Securities and Exchange Commission such indemnification is
against public policy as expressed in the Act and, therefore, is unenforceable.
In the event that a claim for indemnification against such liabilities (other
than the payment by Registrant of expenses incurred or paid by a director,
officer or controlling person of Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, unless in the opinion
of Registrant's counsel the matter has been settled by controlling precedent,
Registrant will submit to a court of appropriate jurisdiction the question
whether such indemnification by it is against public policy as expressed in the
Act and will be governed by the final adjudication of such issue.
<TABLE>
<CAPTION>
Item 29. Principal Underwriters:
(a) At present, ASM, Inc. acts as principal underwriter only for annuities to
be issued by ASLAC.
(b) Directors and officers of ASM, Inc.
<S> <C>
Name and Principal Business Address Position and Offices with Underwriter
----------------------------------- -------------------------------------
Patricia J. Abram Senior Vice President and National
American Skandia Life Assurance Corporation Sales Manager, Variable Life
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Kimberly Anderson Vice President, National Sales
American Skandia Life Assurance Corporation Manager/Qualified Plans
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Gordon C. Boronow Deputy Chief Executive Officer
American Skandia Life Assurance Corporation and Director
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Robert Brinkman Senior Vice President,
American Skandia Life Assurance Corporation National Sales Manager
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Jan R. Carendi Chairman of the Board
American Skandia Life Assurance Corporation of Directors and
One Corporate Drive, P.O. Box 883 Chief Executive Officer
Shelton, Connecticut 06484-0883
Y.K. Chan Senior Vice President and
American Skandia Life Assurance Corporation Chief Information Officer
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Kathleen A. Chapman Assistant Corporate Secretary
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Lucinda C. Ciccarello Vice President, Mutual Funds
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Wade A. Dokken President and Deputy Chief
American Skandia Life Assurance Corporation Executive Officer and
One Corporate Drive, P.O. Box 883 Director
Shelton, Connecticut 06484-0883
Ian Kennedy Senior Vice President,
American Skandia Life Assurance Corporation Customer Service
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
T. Richard Kennedy General Counsel
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
N. David Kuperstock Vice President, Product Development
American Skandia Life Assurance Corporation and Director
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Thomas M. Mazzaferro Executive Vice President,
American Skandia Life Assurance Corporation Chief Financial Officer
One Corporate Drive, P.O. Box 883 and Director
Shelton, Connecticut 06484-0883
Eileen S. McCann Vice President,
American Skandia Life Assurance Corporation Key Accounts Marketing
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
David R. Monroe Senior Vice President,
American Skandia Life Assurance Corporation Treasurer and
One Corporate Drive, P.O. Box 883 Corporate Controller
Shelton, Connecticut 06484-0883
Michael A. Murray Vice President,
American Skandia Life Assurance Corporation National Sales Manager/
One Corporate Drive, P.O. Box 883 American Skandia Advisor Funds
Shelton, Connecticut 06484-0883
Brian O'Connor Vice President, National Sales
American Skandia Life Assurance Corporation Manager, Internal Wholesaling
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
M. Priscilla Pannell Corporate Secretary
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Kathleen A. Pritchard Vice President,
American Skandia Life Assurance Corporation National Key Accounts/
One Corporate Drive, P.O. Box 883 Financial Institutions
Shelton, Connecticut 06484-0883
Hayward L. Sawyer Executive Vice President,
American Skandia Life Assurance Corporation National Sales Manager
One Corporate Drive, P.O. Box 883 and Director
Shelton, Connecticut 06484-0883
Anders O. Soderstrom Executive Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Leslie S. Sutherland Vice President,
American Skandia Life Assurance Corporation National Key Accounts Manager
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Amanda C. Sutyak Vice President
American Skandia Life Assurance Corporation
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Christian A. Thwaites Senior Vice President,
American Skandia Life Assurance Corporation National Marketing Director
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Mary Toumpas Vice President and
American Skandia Life Assurance Corporation Compliance Director
One Corporate Drive, P.O. Box 883
Shelton, Connecticut 06484-0883
Bayard F. Tracy Senior Vice President,
American Skandia Life Assurance Corporation National Sales Manager and
One Corporate Drive, P.O. Box 883 Director
Shelton, Connecticut 06484-0883
Deborah G. Ullman Senior Vice President and
American Skandia Life Assurance Corporation Chief Operating Officer,
One Corporate Drive, P.O. Box 883 Finance and Business Operations
Shelton, Connecticut 06484-0883 and Director
</TABLE>
Item 30. Location of Accounts and Records: Accounts and records are maintained
by ASLAC at its principal office in Shelton, Connecticut.
Item 31. Management Services: None
Item 32. Undertakings:
(a) Registrant hereby undertakes to file a post-effective amendment to this
Registration Statement as frequently as is necessary to ensure that the audited
financial statements in the Registration Statement are never more than 16 months
old so long as payments under the annuity contracts may be accepted and
allocated to the Sub-accounts of Separate Account B.
(b) Registrant hereby undertakes to include either (1) as part of any enrollment
form or application to purchase a contract offered by the prospectus, a space
that an applicant or enrollee can check to request a Statement of Additional
Information, or (2) a post card or similar written communication affixed to or
included in the prospectus that the applicant can remove to send for a Statement
of Additional Information.
(c) Registrant hereby undertakes to deliver any Statement of Additional
Information and any financial statements required to be made available under
this form promptly upon written or oral request.
(d) American Skandia Life Assurance Corporation ("Depositor") hereby represents
that the aggregate fees and charges under the annuity contracts are reasonable
in relation to the services rendered, the expenses expected to be incurred and
the risks assumed by the Depositor.
(e) With respect to the restrictions on withdrawals for Texas Optional
Retirement Programs and Section 403(b) plans, we are relying upon: 1) a
no-action letter dated November 28, 1988 from the staff of the Securities and
Exchange Commission to the American Council of Life Insurance with respect to
annuities issued under Section 403(b) of the code, the requirements of which
have been complied with by us; and 2) Rule 6c-7 under the 1940 Act with respect
to annuities made available through the Texas Optional Retirement Program, the
requirements of which have been complied with by us.
EXHIBITS
As noted in Item 24(b), various exhibits are incorporated by
reference or are not applicable. The exhibits included are as
follows:
No. 9 Opinion and Consent of Counsel
No. 10 Consent of Ernst & Young LLP
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company Act of
1940, the Registrant certifies that it meets the requirements of Securities Act
Rule 485(b) for effectiveness of the Registration Statement and has duly caused
this Registration Statement to be signed on its behalf, in the Town of Shelton
and State of Connecticut, on this the 16th day of June, 2000.
AMERICAN SKANDIA LIFE ASSURANCE CORPORATION VARIABLE ACCOUNT B
(CLASS 1 SUB-ACCOUNTS)
Registrant
By: American Skandia Life Assurance Corporation
By:/s/ Kathleen A. Chapman Attest:/s/ Scott K. Richardson
Kathleen A. Chapman, Assistant Corporate Secretary Scott K. Richardson
AMERICAN SKANDIA LIFE ASSURANCE CORPORATION
Depositor
By:/s/ Kathleen A. Chapman Attest:/s/ Scott K. Richardson
Kathleen A. Chapman, Assistant Corporate Secretary Scott K. Richardson
As required by the Securities Act of 1933, this Registration Statement has been
signed by the following persons in the capacities and on the date indicated.
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Signature Title Date
(Principal Executive Officer)
Jan R. Carendi* Chief Executive Officer, June 16, 2000
Jan R. Carendi Chairman of the Board and Director
(Principal Financial Officer)
/s/ Thomas M. Mazzaferro Executive Vice President and June 16, 2000
Thomas M. Mazzaferro Chief Financial Officer
(Principal Accounting Officer)
/s/ David R. Monroe Senior Vice President, Treasurer June 16, 2000
David R. Monroe and Corporate Controller
(Board of Directors)
Jan. R. Carendi* Gordon C. Boronow* Malcolm M. Campbell*
---------------- ------------------ --------------------
Jan. R. Carendi Gordon C. Boronow Malcolm M. Campbell
Henrik Danckwardt* Amanda C. Sutyak* Wade A. Dokken*
------------------ ----------------- ---------------
Henrik Danckwardt Amanda C. Sutyak Wade A. Dokken
Thomas M. Mazzaferro* Gunnar Moberg* Bayard F. Tracy*
--------------------- -------------- ----------------
Thomas M. Mazzaferro Gunnar Moberg Bayard F. Tracy
Anders Soderstrom* C. Ake Svensson* Lincoln R. Collins*
------------------ ---------------- -------------------
Anders Soderstrom C. Ake Svensson Lincoln R. Collins
T. Richard Kennedy** Brett M. Winson**
-------------------- -----------------
T. Richard Kennedy Brett M. Winson
*/**By: /s/Kathleen A. Chapman
---------------------------
Kathleen A. Chapman
<FN>
*Pursuant to Powers of Attorney filed with Initial Registration Statement No. 333-25733
**Pursuant to Power of Attorney filed with Post-Effective Amendment No. 4 to Registration Statement No. 333-25733
</FN>
</TABLE>
