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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 12/23/21 Fortune V Separate Account N-3/A 19:59M Empire Filings/FA → Universal Via – Money Market Portfolio → Universal Via Asset Allocation – Conservative Portfolio → Universal Via Asset Allocation – Growth Portfolio → Universal Via Asset Allocation – International Growth Portfolio → Universal Via Asset Allocation – Moderate Growth Portfolio → Universal Via Asset Allocation – Moderate Portfolio |
Document/Exhibit Description Pages Size
1: N-3/A Pre-Effective Amendment to Registration Statement HTML 4.29M
by an Open-End Investment Company for a Separate
Account
2: EX-1 Underwriting Agreement or Conflict Minerals Report HTML 13K
3: EX-2 Plan of Acquisition, Reorganization, Arrangement, HTML 35K
Liquidation or Succession
4: EX-3 Articles of Incorporation/Organization or Bylaws HTML 16K
5: EX-4.(A) Instrument Defining the Rights of Security Holders HTML 21K
6: EX-4.(B) Instrument Defining the Rights of Security Holders HTML 46K
7: EX-5.(A) Opinion of Counsel re: Legality HTML 110K
8: EX-5.(B) Opinion of Counsel re: Legality HTML 79K
14: EX-9 Voting Trust Agreement HTML 122K
16: EX-13 Annual or Quarterly Report to Security Holders HTML 9K
18: EX-17 Correspondence re: Departure of a Director HTML 30K
9: EX-99.6.(A) Exhibit 6(A) HTML 186K
10: EX-99.6.(B) Exhibit 6(B) HTML 13K
11: EX-99.6.(C) Exhbit 6(C) HTML 19K
12: EX-99.6.(D) Exhibit 6(D) HTML 25K
13: EX-7 Correspondence from an Accountant re: Non-Reliance HTML 10K
on a Previously Issued Audit Report or Completed
Interim Review
15: EX-12 Statement re: the Computation of Ratios HTML 12K
17: EX-16 Letter re: a Change in Accountant HTML 138K
19: EX-18 Letter re: a Change in Accounting Principles or HTML 37K
Practices
Exhibit (12)
Lcdo. Miguel A. Santiago
Office No.: (787) 523-3434
Direct No.: (787) 523-3436
E-Mail: msantiago@cstlawpr.com
Dear Sir or Madam:
In my capacity as outside counsel to Universal Life Insurance Company (“ULICO”), I have acted as counsel to ULICO in connection with the establishment of ULICO’s Fortune V Separate Account (the “Separate Account”) on May 24, 2021 by the Board of Directors of ULICO as a separate account for assets applicable to certain deferred variable annuity contracts (“Contracts”), pursuant to provisions of the applicable law of Puerto Rico. I have participated in the preparation and review of the registration statement on Form N-3 which is to be filed by ULICO with the U.S. Securities and Exchange Commission under the Securities Act of 1933 and Investment Company Act of 1940 for the registration of the Contracts.
I am of the following opinion:
(1) ULICO has been duly organized under the laws of the Commonwealth of Puerto Rico and is validly existing and in good standing as a corporation and has been duly authorized to issue the Contracts.
(2) The Separate Account has been duly created and is validly existing as a separate account pursuant to the aforesaid provisions of Puerto Rico law.
(3) The portion of the assets to be held in the Separate Account equal to the reserves and other liabilities for variable benefits under the Contracts is not chargeable with liabilities arising out of any other business ULICO may conduct.
(4) The Contracts, when issued as contemplated under the Form N-3 registration statement, will be a legal, validly issued, and binding obligation of ULICO in accordance with the terms of such Contracts.
In arriving at the foregoing opinion, I have made such examination of law and examined such records and other documents as I judged to be necessary or appropriate.
I hereby consent to the filing of this opinion as an exhibit to the Form N-3 registration statement.
| Very truly yours, | |
| /s/ Miguel A. Santiago-Rivera | |
|
Attorney At Law | |
| Casillas, Santiago, Torres LLC |
C:
| This ‘N-3/A’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 12/23/21 | EFFECT | ||
| 5/24/21 | N-8A | |||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 5/15/23 Fortune V Separate Account 485BPOS 5/15/23 11:6.1M Empire Filings/FA 6/10/22 Fortune V Separate Account 485BPOS 6/10/22 3:3.2M Empire Filings/FA 3/02/22 Fortune V Separate Account 485APOS 2:2.4M Empire Filings/FA |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 10/28/21 Universal Life Sep Acct Fort… VII N-4 10/27/21 5:19M Empire Filings/FA 9/13/21 Fortune V Separate Account N-CSRS 6/30/21 3:822K Empire Filings/FA |