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Annual Notice of Securities Sold Pursuant to Rule 24F-2
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.
Please print or type.
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1. Name and address of issuer: Separate Account VUL-2 of The American
Franklin Life Insurance Company, #1 Franklin Square, Springfield, Illinois
62713
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2. Name of each series or class of funds for which this notice is filed:
Units of interest in Separate Account VUL-2 issued under EquiBuilder II
and EquiBuilder III flexible premium variable life insurance policies
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3. Investment Company Act File Number: 811-6366
Securities Act File Number: 33-41838*, 33-77470
*The fee is being paid on the filing for 33-41838.
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4. Last day of fiscal year for which this notice is filed: December 31, 1996
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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:
[ ]
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6. Date of termination of issuer's declaration under rule 24f-2(a)(1), if
applicable (see Instruction A.6): Not applicable
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7. Number and amount of securities of the same class or series which had been
registered
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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: 0
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8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2: 0
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9. Number and aggregate sales price of securities sold during the fiscal
year: Number of Units: 312,248; Aggregate Sales Price: $48,808,508
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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: Number of Units:
312,248; Aggregate Sales Price: $48,808,508
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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): Not applicable
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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): $48,808,508
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(ii) Aggregate price of shares issued in connection with dividend
reinvestment plans (from Item 11, if applicable):
+
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(iii) Aggregate price of shares redeemed or repurchased during the
fiscal year (if applicable): -15,574,222
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(iv) Aggregate price of shares redeemed or repurchased and previously
applied as a reduction to filing fees pursuant to rule 24e-2 (if
applicable):
+
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(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):
33,234,286
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(vi) Multiplier prescribed by Section 6(b) of the Securities Act of
1933 or other applicable law or regulation (see Instruction C.6):
x 1/3300
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(vii) Fee due [line (1) or line (v) multiplied by line (vi)]:
$ 10,071.00*
==========
Instruction: Issuers should complete lines (ii), (iii), (iv), and (v) only if
the form is being filed within 60 days after the close of the
issuer's fiscal year. See Instruction C.3.
*The fee is being paid on the filing for 33-41838.
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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 fee to the Commission's lockbox
depository: February 24, 1997
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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/ Ross D. Friend
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Ross D. Friend, Senior Vice President,
General Counsel and Secretary,
The American Franklin Life Insurance Company
Date: February 25, 1997
*Please print the name and title of the signing officer below the signature.
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Letterhead of
The American Franklin Life Insurance Company
#1 Franklin Square
Springfield, Illinois 62713
February 25, 1997
The American Franklin Life Insurance Company
#1 Franklin Square
Springfield, Illinois 62713
Gentlemen:
As Assistant Secretary of The American Franklin Life Insurance Company (the
"Company") and Associate General Counsel of The Franklin Life Insurance
Company, I have reviewed the corporate proceedings relating to the issuance
during the year ended December 31, 1996 by Separate Account VUL-2 of The
American Franklin Life Insurance Company ("Separate Account VUL-2") of units of
interest in Separate Account VUL-2 under EquiBuilder II(TM) flexible premium
variable life insurance policies ("1996 Policies") pursuant to Rule 24f-2 under
the Investment Company Act of 1940, as amended ("Rule 24f-2"). I have also
participated in the preparation by Separate Account VUL-2 of (i) Post-Effective
Amendments to Separate Account VUL-2's Registration Statement on Form S-6 under
the Securities Act of 1933, as amended, pursuant to which the 1996 Policies
were offered, and (ii) a notice pursuant to Rule 24f-2 on Form 24F-2 for the
year ended December 31, 1996 (the "Form 24F-2") with respect to the 1996
Policies. In addition, I have examined such other documents and such questions
of law as in my judgment are necessary or appropriate for purposes of this
opinion. Based upon the foregoing, it is my opinion that:
1. The Company is a stock life insurance corporation duly organized
and validly existing under the laws of the State of Illinois and is duly
authorized under such laws to issue and sell life, accident and health
insurance, and annuity contracts.
2. Separate Account VUL-2 is a separate account of the Company
duly created and validly existing pursuant to the laws of the State of
Illinois.
3. The issuance and sale of the 1996 Policies were duly authorized
by the Company, and the 1996 Policies are legal and binding obligations
of the Company in accordance with their terms.
I hereby consent to the filing of this opinion as an exhibit to the Form 24F-2
to be filed by Separate Account VUL-2 with the Securities and Exchange
Commission.
Very truly yours,
/s/ Elizabeth E. Arthur
Elizabeth E. Arthur
Assistant Secretary
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Letterhead of
The American Franklin Life Insurance Company
#1 Franklin Square
Springfield, Illinois 62713
February 25, 1997
The American Franklin Life Insurance Company
#1 Franklin Square
Springfield, Illinois 62713
Gentlemen:
As Assistant Secretary of The American Franklin Life Insurance Company (the
"Company") and Associate General Counsel of The Franklin Life Insurance
Company, I have reviewed the corporate proceedings relating to the issuance
during the year ended December 31, 1996 by Separate Account VUL-2 of The
American Franklin Life Insurance Company ("Separate Account VUL-2") of units of
interest in Separate Account VUL-2 under EquiBuilder III(TM) flexible premium
variable life insurance policies ("1996 Policies") pursuant to Rule 24f-2 under
the Investment Company Act of 1940, as amended ("Rule 24f-2"). I have also
participated in the preparation by Separate Account VUL-2 of (i) Post-Effective
Amendments to Separate Account VUL-2's Registration Statement on Form S-6 under
the Securities Act of 1933, as amended, pursuant to which the 1996 Policies
were offered, and (ii) a notice pursuant to Rule 24f-2 on Form 24F-2 for the
year ended December 31, 1996 (the "Form 24F-2") with respect to the 1996
Policies. In addition, I have examined such other documents and such questions
of law as in my judgment are necessary or appropriate for purposes of this
opinion. Based upon the foregoing, it is my opinion that:
1. The Company is a stock life insurance corporation duly
organized and validly existing under the laws of the State of Illinois
and is duly authorized under such laws to issue and sell life,
accident and health insurance, and annuity contracts.
2. Separate Account VUL-2 is a separate account of the Company
duly created and validly existing pursuant to the laws of the State of
Illinois.
3. The issuance and sale of the 1996 Policies were duly
authorized by the Company, and the 1996 Policies are legal and binding
obligations of the Company in accordance with their terms.
I hereby consent to the filing of this opinion as an exhibit to the Form 24F-2
to be filed by Separate Account VUL-2 with the Securities and Exchange
Commission.
Very truly yours,
/s/ Elizabeth E. Arthur
Elizabeth E. Arthur
Assistant Secretary
