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ANNUAL NOTICE OF SECURITIES SOLD PURSUANT TO RULE 24F - 2
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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:
USAA LIFE INVESTMENT TRUST
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2. Name of each series or class of securities for which this Form is filed (if
the form is being filed for all series and classes of securities to the issuer,
check the box but do not list series or classes):
[X]
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3. Investment Company Act File Number:
811-8672
Securities Act File Number:
33-82270
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4(a). Last day of fiscal year for which this Form is filed:
DECEMBER 31, 1997
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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.
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4(c). Check box if this is the last time the issuer will be filing this Form.
[ ]
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5. Calculation of registration fees:
(i) Aggregate sale price of securities sold during
the fiscal year pursuant to section 24(f): $0
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(ii) Aggregate price of securities redeemed or
repurchased during the fiscal year: $0
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(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): $0
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(v) Net sales - if Item 5(i) is greater than
Item 5(iv) [subtract Item 5(iv) from Item 5(i)] $0
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(vi) Redemption credits available for use in future
years - if Item 5(i) is less than 5(iv) [subtract
Item 5(iv) from Item 5(i)]: $_______0_______
(vii) Multiplier for determining registration fee (See
Instruction C.9): x 0.000295
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(viii) Registration fee due [multiply Item 5(v) by Item
5(vii)] (enter "0" if no fee is due): = $0
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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:________0__________. 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, than state that number here:_________0________
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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):
+ $0
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8. Total of the amount of the registration fee due plus any interest due [line
5(viii) plus line 7]:
= $0
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9. Date the registration fee and any interest payment was sent to the
Commission's lockbox depository: 2/26/98
Method of Delivery:
Wire Transfer [x]
Mail or other means [ ]
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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/ EDWIN L. ROSANE
________________________________
Edwin L. Rosane, President
________________________________
Date 2/26/98
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*Please print the name and title of the signing officer below the signature.
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[LETTERHEAD OF FREEDMAN, LEVY, KROLL & SIMONDS APPEARS HERE]
February 21, 1998
USAA Life Investment Trust
9800 Fredericksburg Road
San Antonio, Texas 78288
Executives:
This opinion is given in connection with the filing with the Securities
and Exchange Commission ("SEC") by USAA Life Investment Trust, a Delaware trust
(the "Trust"), of a notice pursuant to Rule 24f-2 (the "Rule 24f-2 Notice")
under the Investment Company Act of 1940 (the "1940 Act").
By its Registration Statement on Form N-1A (File Nos. 33-82270 and 811-
8672, the "Registration Statement") filed with the SEC under the Securities Act
of 1933 (the "1933 Act") and the 1940 Act, the Trust registered an indefinite
number of securities. The Rule 24f-2 Notice makes definite the number of these
registered securities sold during the year ended December 31, 1997 ("shares").
We have examined the following: the Certificate of Trust, dated July 20,
1994; the Master Trust Agreement, dated December 14, 1994, as amended February
7, 1997; the By-laws of the Trust; certain Board of Trustees' resolutions; the
Notification of Registration on Form N-8A filed with the SEC under the 1940 Act
on August 1, 1994; the Registration Statement as originally filed with the SEC
under the 1933 Act and the 1940 Act on the same date, and amendments thereto
substantially in the form filed with the SEC; a Certificate of Good Standing
issued by the State of Delaware on February 10, 1997; pertinent provisions of
the laws of Delaware; and such other records, certificates, representations,
documents and statutes that we have deemed relevant in order to render the
opinion expressed herein. Further, in rendering our opinion, we have assumed,
without investigation, that the Trust issued the shares in the manner
contemplated by the Registration Statement as in effect at the time of issuance.
We are not members of the Delaware bar. Nevertheless, based on the
foregoing, we are of the opinion that the shares are legally issued, fully paid
and non-assessable.
This letter expresses our opinion as to the Delaware Business Trust Act,
addressing matters such as the authorization and issuance of shares, but does
not extend to the securities or "Blue Sky" laws of Delaware or to federal
securities or other laws.
Very truly yours,
/s/ Freedman, Levy, Kroll & Simonds
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Freedman, Levy, Kroll & Simonds
