MAINSTAY INSTITUTIONAL FUNDS INC
24F-2NT/A, 2000-01-24
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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

             Read Instructions at end of Form before preparing Form.


1.       Name and address of issuer:

         MainStay Institutional Funds, Inc.
         51 Madison Avenue
         New York, NY  10010
2.      The name of each series of class of securities for which this Form is
        filed (If the Form is being filed for all series and classes of
        securities of the issuer, check the box but do not list series or
        classes):  X

3.       Investment Company Act File Number:  811-6175

         Securities Act File Number:  33-36962

4(a).    Last day of fiscal year for which this Form is filed:

         10/31/99

4(b).___Check  box if this Form is being  filed  late  (i.e.,  more than 90
calendar days after the end of the issuer's fiscal year). (See Instruction A.2)

Note:  If the Form is being filed late, 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): $1,560,232,603

     (ii)  Aggregate  price of  securities  redeemed or  repurchased  during the
fiscal year: $1,518,635,951

     (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: $0

     (iv) Total  available  redemption  credits  [add Items  5(ii) and  5(iii)]:
$1,518,635,951

     (v) Net sales-If Item 5(i) is greater than Item 5(iv)  [subtract Item 5(iv)
from Item 5(i)]: $41,596,652

     (vi) Redemption  credits  available for use in future years if Item 5(i) is
less than Item 5(iv) [subtract Item 5(iv) from Item 5(i)]: $(_______________)

     (vii) Multiplier for determining  registration fee (See Instruction C.9): x
 .000264

     (viii)  Registration fee due [multiply Item 5(v) by Item 5(vii)] (enter "0"
for no fee is due): $10,981.52

         6.       Prepaid Shares

     If the  response  to Item 5(i) was  determined  by  deducting  an amount of
securities  that were  registered  under the  Securities Act of 1933 pursuant to
rule 24e-2 as in effect  before  October  11,  1997,  then  report the amount of
securities  (number of shares or other units)  deducted here:  _____________  If
there is a number of shares or other units that were registered pursuant to rule
24e-2  remaining  unsold at the end of the  fiscal  year for which  this form is
filed that are  available  for use by the issuer in future  fiscal  years,  then
state that number here:____________

     7.  Interest due -- if this Form is being filed more than 90 days after the
end of the issuer's fiscal year (see Instruction D): $______________

     8. Total of the amount of the  registration  fee due plus any  interest due
(line 5(viii) plus line 7): $10,981.52

     9.  Date the  registration  fee and any  interest  payment  was sent to the
Commission's  lockbox  depository:

                   Method of Delivery: X Wire Transfer Mail or
                                       other means

                                   SIGNATURES

     This report has been signed below by the following persons on behalf of the
issuer and in the capacities and on the date indicated.

By (Signature and Title):
                         /s/ John A. Flanagan, Treasurer

Date:  January 24, 2000      John A. Flanagan, Treasurer







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