UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
RAC FINANCIAL GROUP, INC
(NAME OF ISSUER)
COMMON STOCK, $.01 PAR VALUE
(TITLE OF CLASS OF SECURITIES)
749207106
(CUSIP NUMBER)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following pages)
Page 1 of 5 Pages
CORPDAL:61711.1 28835-00003
<PAGE>
CUSIP No. 749207106 Schedule 13G Page 2 of 5 Pages
1 NAME OF REPORTING PERSON DANIEL T. PHILLIPS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
5 SOLE VOTING POWER 4,348,774
This number includes 335,000 shares which are owned by
Phillips Partnership. Mr. Phillips has the sole voting
NUMBER OF control over the shares through an irrevocable
five-year voting proxy.See footnotes 1 and 2 to Item 4
SHARES
BENEFICIALLY 6 SHARED VOTING POWER 0
OWNED BY
7 SOLE DISPOSITIVE POWER 4,013,774
EACH
REPORTING 8 SHARED DISPOSITIVE POWER 335,000
PERSON WITH
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,348,774
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
17.4%
12 TYPE OF REPORTING PERSON*
IN
-------- ---------
*SEE INSTRUCTION BEFORE FILLING OUT!
CORPDAL:61711.1 28835-00003
<PAGE>
CUSIP No. 749207106 Schedule 13G Page 3 of 5 Pages
Item 1.
(a) Name of Issuer:
RAC Financial Group, Inc.
(b) Address of Issuer's Principal Executive Offices:
1250 West Mockingbird Lane
Dallas, Texas 75247
Item 2.
(a) Name of Person Filing:
Daniel T. Phillips
(b) Address of Principal Business Office or, if none, Residence:
1250 West Mockingbird Lane
Dallas, Texas 75247
(c) Citizenship:
United States
(d) Title of Class of Securities:
Common Stock, $.01 par value
(e) CUSIP No.:
749207106
Item 3. Not Applicable.
Item 4. Ownership.
The following information relates to the reporting person's ownership
of Common Stock, $.01 par value, of the issuer as of December 31, 1996.
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<PAGE>
CUSIP No. 749207106 Schedule 13G Page 4 of 5 Pages
(a) Amount Beneficially Owned:
4,348,774
(b) Percent of Class:
17.4%
(c) Number of Shares as to Which Such Person Has:
(i) Sole power to vote or to direct the vote:
4,348,774(1)
(ii) shared power to vote or to direct the vote:
0
(iii) sole power to dispose or to direct the
disposition of:
4,013,774
(iv) shared power to dispose or to direct the
disposition of;
335,000(2)
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact
that as of the date hereof the reporting person has ceased to
be the beneficial owner of more than five percent of the class
of securities, check the following [ ].
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable.
--------
(1) Includes 335,000 shares of Common Stock owned by Phillips Partnership.
The general partner of Phillips Partnership is Lenox Investment Corporation
("Lenox"), which is owned 50% by Daniel T. Phillips and 50% by his wife. The
limited partners of Phillips Partnership are the Daniel T. Phillips Trust,
Daniel T. Phillips and Mr. Phillips' wife. Mr. Phillips has voting control over
the shares owned by Phillips Partnership through an irrevocable five-year voting
proxy.
(2) Mr. Phillips shares dispositive power over the 335,000 shares owned by
Phillips Partnership with his wife, due to his and his wife's ownership of
Phillips Partnership's general partner.
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CUSIP No. 749207106 Schedule 13G Page 5 of 5 Pages
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
Not Applicable.
Item 8. Identification and Classification of Members of the Group.
Not Applicable.
Item 9. Notice of Dissolution of Group.
Not Applicable.
Item 10. Certification.
Not Applicable.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 14, 1997
DANIEL T. PHILLIPS
By: /s/ Daniel T. Phillips
Name: Daniel T. Phillips
CORPDAL:61711.1 28835-00003
