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Pacific Corinthian Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660
Telephone (714) 640-3852
February 28, 1996
Pacific Corinthian Life Insurance Company
Post Office Box 9000
700 Newport Center Drive
Newport Beach, California 92660
Dear Sirs:
In my capacity as Vice President and Investment Counsel of Pacific Corinthian
Life Insurance Company ("Pacific Corinthian"), I am familiar with the Pacific
Corinthian Variable Separate Account of Pacific Corinthian Life Insurance
Company ("Separate Account"), which is a separate account for assets applicable
to Pacific Corinthian Variable Annuity contracts ("Contracts") issued by Pacific
Mutual.
I have made such examination of the law and examined such corporate records and
such other documents as in my judgment are necessary and appropriate to enable
me to render the following opinion.
The issuance and sale of interests in the Separate Account under the Contracts
during the Separate Account's fiscal year ending December 31, 1995 represent the
following amounts allocated to the Variable Accounts:
VARIABLE ACCOUNT AMOUNT
---------------- ------
MONEY MARKET $1,390,609
MANAGED BOND 110,331
GOVERNMENT SECURITIES 145,470
HIGH YIELD BOND 70,103
EQUITY INCOME 288,618
MULTI-STRATEGY 161,057
INTERNATIONAL 389,727
EQUITY INDEX 283,469
GROWTH LT 686,433
EQUITY 796,717
BOND AND INCOME 244,398
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TOTAL: $4,566,932
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Pacific Corinthian Life Insurance Company
February 28, 1996
Page 2
It is my opinion that such interests were issued in connection with Contracts
that constitute legal, validly issued and binding obligations of Pacific
Corinthian except as limited by bankruptcy or insolvency laws affecting the
rights of creditors generally.
I consent to the use of this letter by Pacific Corinthian in connection with the
Separate Account's Notice pursuant to Rule 24f-2 under the Investment Company
Act of 1940 for the Separate Account's fiscal year ending December 31, 1995.
Very truly yours,
Sharon A. Cheever
Vice President and Investment Counsel
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APPENDIX I. 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: PACIFIC CORINTHIAN VARIABLE
SEPARATE ACCOUNT
700 NEWPORT CENTER DRIVE
NEWPORT BEACH, CA 92660
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2. Name of each series or class of funds for which this notice is filed:
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3. Investment Company Act File Number: 811-7082
Securities Act File Number: 33-50394
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4. Last day of fiscal year for which this notice is filed:
December 31, 1995
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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):
N/A
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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
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8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2:
NONE
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9. Number and aggregate sale price of securities sold during the fiscal year:
SEE ATTACHED WORKSHEET
Number of securities sold not applicable as Registrant is a separate account
registered as a unit investment trust.
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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:
SAME AS NUMBER 9.
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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 C.7):
N/A
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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): $ 4,566,932
------------
(ii) Aggregate price of shares issued in connection
with dividend reinvestment plans (from item 11,
if applicable): +
-------------
(iii) Aggregate price of shares redeemed or repurchased
during the fiscal year (if applicable): _ 34,175,144
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(iv) Aggregate price of shares redeemed or repurchased
and previously applied as a reduction to filing
fees pursuant to rule 24f-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 (29,608,212)
line (iv)](if applicable): -------------
(vi) Multiplier prescribed by Section 6(b) of the
Securities Act of 1933 or other applicable law
or regulation (see instruction C.6): x 1/2900
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(vii) Fee due [line (i) or line (v) multiplied by 0.00
line (vi)]: =============
Instructions: 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.
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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 fees to the Commission's
lockbox depository:
February 27, 1996
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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) Sharon A. Cheever
---------------------------------------------
Vice President and Investment Counsel
---------------------------------------------
Date February 28, 1996
------------------------------
Please print the name and title of the signing officer below the signature.
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PACIFIC CORINTHIAN VARIABLE SEPARATE ACCOUNT
FOR THE YEAR ENDED 12/31/95
RULE 24F-2 FEE
(A) (B) (C)
NET
TOTAL TOTAL SALES
SALES REDEMPTIONS (REDEMPTIONS)
---------- ----------- -------------
(A)-(B)
Money Market 1,390,609 3,926,615 (2,536,006)
Managed Bond 110,331 52 110,279
Government Securities 145,470 756,004 (610,534)
High Yield Bond 70,103 0 70,103
Equity Income 288,618 6,834,609 (6,545,991)
Multi-Strategy 161,057 5,355,424 (5,194,367)
International 389,727 62,657 327,070
Equity Index 283,469 9,432 274,037
Growth LT 686,433 20,784 665,649
Equity 796,717 10,979,021 (10,182,304)
Bond & Income 244,398 6,230,546 (5,986,148)
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TOTAL 4,566,932 34,175,144 (29,608,212)
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FEE CALCULATION:
EDGAR 1/29 of 1%
Method Method
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(a/b) (a*b)
Sales Less Redemptions (a) (29,608,212) (29,608,212)
Rate (b) 2,900 0.00034483
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Filing Fee 0.00 0.00
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Fee due payable will be the higher of the two methods. If less than zero, no
amount due.
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AMOUNT DUE: 0.00
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