March 06 1998
Board of Directors
Canada Life of America Series Fund Inc.
330 University Avenue
Toronto Ontario
M5G 1R8
Canada
Gentlemen:
Re: Registration Statement No. 33-28888
This opinion is furnished in connection with the preparation and
filing by Canada Life of America Series Fund Inc. ("The Fund")
with the Securities and Exchange Commission of a Notice
("Notice"), dated March 06, 1998, as set forth in the Notice.
I call to your attention that as Counsel U.S. Division for The
Canada Life Assurance Company
the parent of Canada Life
Insurance Company of America and Canada Life of New York I
have general supervision of all legal affairs of Canada Life of
America Variable Annuity Account 1 ("Variable Account 1"). I
also have general supervision of legal affairs of The Fund all of
whose shares are owned by the separate accounts of Canada
Life Insurance Company of America and Canada Life Insurance
Company of New York. This includes shares issued in the
amount of $156,187,255 the year ended December 31 1997.
Based upon my examination of the relevant documents contained
in The Fund's registration statement
I am of the opinion that the
shares issued pursuant to The Fund's prospectus are legally
issued fully paid and nonassessable. I consent to the filing of this
opinion, in conjunction with the Rule 24f 2 Notice, with the
Securities and Exchange Commission.
Sincerely
/s/ David A. hopkins
David A. Hopkins
DAH/mks
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Filing under Rule 24f-2
of the Investment Company Act of 1940
Read instructions at end of Form before preparing Form.
Please print or type.
1.
Name and address of issuer:
Canada Life Of America Series Fund, Inc., 330 University Avenue
Toronto, Ontario, Canada M5G 1R8
2.
The name of each series or class of securities for which this Form is
filed (leave this item blank if the Form is being filed for all series
and classes of securities of the issuer):
Money Market, Managed, Bond, Value Equity, Capital, International
Equity Series
3.
Investment Company Act File Number: 811-05816
Securities Act File Number : 33-28888
4(a).
Last day of fiscal year for which this Form is filed: December 31,
1997
4(b).
Check box if this Form is being filed late (i.e., more than 90 days
after the end of the issuer's fiscal year).
Note: If the Form is being filed more than 90 days after the end of the
issuer's fiscal year, interest must be paid on the registration fee due.
4(c).
Check box if this is the last time the issuer will be filing this form
5.
Calculation of registration fee:
(i)
Aggregate sale price of securities sold during the
fiscal year pursuant to section 24(f):
$160,460,723
(ii)
Aggregate price of securities redeemed or
repurchased during the fiscal year:
$158,560,217
(iii)
Aggregate price of securities redeemed or
repurchased during any prior fiscal year
ending no earlier than October 11, 1995 that
were not previously used to reduce
registration fees payable to the Commission:
$ N/A
(iv)
Total available redemption credits [add Items
5(ii) and 5(iii)]:
- - $158,560,217
(v)
Net sales - if item 5 (i) is greater than Item 5(iv)
[subtract Item 5(iv) from Item 5(i)]:
$ 1,900,506
(vi)
Redemption credits available for use in future
year - if Item 5(iv) is less than Item 5(iv)
[subtract Item 5(iv) from Item 5(i)]:
$( N/A )
(vii)
Multiplier for determining registration fee
(See Instruction C.8):
x 1/3300
(viii)
Registration fee due [multiply Item 5(v) by item
5(vii)] (enter "0" if no fee is due):
= $ 575.91
6.
Interest due - if this Form is being filed more than 90 days after the
end of the issuer's fiscal year (see Instruction D):
+$ N/A
7.
Total of the amount of the registration fee due plus any interest due
[Item 5(vii) plus Item 6]:
= $ 575.91
8.
Date the registration fee and any interest payment was sent to the
commission's lockbox depository: Mar 06, 1998
Account Number:
9108739
Method of Delivery:
X
Wire Transfer
Mail or other means
This Form 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/ D.V. Rough
D.V. Rough
Treasurer
Date March 06, 1998.
Please print the name and title of the signing officer below the signature.
Attachment
(1)
(i)
Aggregate sale price of securities sold during the fiscal year in reliance
on rule 24f-2.
Series 001
- -Money Market Series
$129,231,519
Series 002
- -Managed Series
3,402,203
Series 003
- -Bond Series
1,649,293
Series 004
- -Value Equity Series
2,609,978
Series 005
- -Capital Series
1,293,829
Series 006
- -International Equity Series
18,000,433
$156,187,255
(2)
(ii)
Aggregate price of shares issued in connection with dividend
reinvestment plans.
Series 001
- -Money Market Series
$ 521,937
Series 002
- -Managed Series
1,733,625
Series 003
- -Bond Series
376,138
Series 004
- -Value Equity Series
949,877
Series 005
- -Capital Series
627,720
Series 006
- -International Equity Series
64,171
$4,273,468
(3)
(iii)
Aggregate price of shares redeemed or repurchased during the
fiscal year.
Series 001
- -Money Market Series
$128,203,276
Series 002
- -Managed Series
6,694,608
Series 003
- -Bond Series
1,829,490
Series 004
- -Value Equity Series
3,134,267
Series 005
- -Capital Series
2,329,507
Series 006
- -International Equity Series
16,369,069
$158,560,217
Shares Authorized
Shares Outstanding
Series 001
- -Money Market Series
20,000,000
914,939
Series 002
- -Managed Series
20,000,000
1,227,438
Series 003
- -Bond Series
10,000,000
667,495
Series 004
- -Value Equity Series
10,000,000
689,924
Series 005
- -Capital Series
20,000,000
458,845
Series 006
- -International Equity Series
10,000,000
410,055
1
