It is a classic result of Segerberg and Maksimova that a variety of -algebras is locally finite iff it is of finite depth. Since the logic (monadic ) axiomatizes the one-variable fragment of (predicate ), it is natural to try to generalize the Segerberg–Maksimova theorem to this setting. We obtain several results in this direction. Our positive results include the identification of the largest semisimple variety of -algebras. We prove that the corresponding logic has the finite model property. We show that both and are proper extensions of , and that a direct generalization of the Segerberg–Maksimova theorem holds for a family of varieties containing the variety of -algebras. Our negative results include a translation of varieties of -algebras into varieties of -algebras of depth 2, which preserves and reflects local finiteness. This, in particular, shows that the problem of characterizing locally finite varieties of -algebras (even of -algebras) is at least as hard as that of characterizing locally finite varieties of -algebras – a problem that remains wide open.

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