THIS DOCUMENT IS A COPY OF THE SCHEDULE 13G FILED ON FEBRUARY 18, 1997 PURSUANT
TO RULE 201 TEMPORARY HARDSHIP EXEMPTION.
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).
IN ACCORDANCE WITH RULE 201 OF REGULATION S-T, THIS SCHEDULE 13G IS BEING FILED
IN PAPER PURSUANT TO A TEMPORARY HARDSHIP EXEMPTION.
(Continued on following pages)
Page 1 of 6 Pages
CORPDAL:61726.1 28835-00003
<PAGE>
CUSIP No. 749207106 Schedule 13G Page 2 of 6 Pages
1 NAME OF REPORTING PERSON RONALD M. MANKOFF
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b) [X]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
5 SOLE VOTING POWER 824,402
NUMBER OF See footnote (1) to Item 4
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
6 SHARED VOTING POWER 1,820,000
See footnote (1) to Item 4
7 SOLE DISPOSITIVE POWER 824,402
See footnote (1) to Item 4
8 SHARED DISPOSITIVE POWER 1,820,000
See footnote (1) to Item 4
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,644,402
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|X|
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.6%
12 TYPE OF REPORTING PERSON*
IN
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<PAGE>
CUSIP No. 749207106 Schedule 13G Page 3 of 6 Pages
1 NAME OF REPORTING PERSON RJM PROPERTIES, LTD.
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b) [X]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
5 SOLE VOTING POWER 0
NUMBER OF
SHARES 6 SHARED VOTING POWER 1,820,000
BENEFICIALLY See footnote (1) to Item 4.
OWNED BY
7 SOLE DISPOSITIVE POWER 0
EACH
REPORTING 8 SHARED DISPOSITIVE POWER 1,820,000
PERSON WITH See footnote (1) to Item 4.
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,820,000
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.3%
12 TYPE OF REPORTING PERSON*
PN
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<PAGE>
CUSIP No. 749207106 Schedule 13G Page 4 of 6 Pages
(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:
Ronald M. Mankoff
RJM Properties, Ltd.
(b) Address of Principal Business Office
or, if none, Residence:
5950 Berkshire, Suite 550
Dallas, Texas 75225
5950 Berkshire, Suite 550
Dallas, Texas 75225
(c) Citizenship:
Ronald M. Mankoff - United States
RJM Properties, Ltd. - Texas
(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 5 of 6 Pages
Ronald M. Mankoff RJM Properties, Ltd.
(a) Amount Beneficially 2,644,402(1) 1,820,000
Owned:
(b) Percent of Class: 10.6% 7.3%
(c) Number of Shares as to
Which Such Person
Has:
(i) Sole power to vote
or to direct the vote: 824,402(2) 0
(ii) shared power to vote
or to direct the vote: 1,820,000(3) 1,820,000(3)
(iii) sole power to
dispose
or to direct the
disposition of: 824,402(2) 0
(iv) shared power to
dispose or to direct
the disposition of; 1,820,000(3) 1,820,000(3)
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.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
Not Applicable.
(1) The figure of 2,644,402 shares includes 1,820,000 shares owned by RJM
Properties, Ltd. See footnote 3. (2) Mr. Mankoff individually owned
409,308 shares as of December 31, 1996 and had options, exercisable within
60 days of December 31, 1996, for an additional 33,334 shares. The figure
of 824,402 shares, in addition to the shares described in the preceding
sentence, also includes 381,760 shares owned by the Donald Rubin Children's
Trust, of which Mr. Mankoff is the sole trustee.
(3) RJM Properties, Ltd. is a Texas limited partnership in which SFA Mortgage
Company ("SFA") is the sole general partner. SFA is owned 50% by
Mr. Mankoff and 50% by Mr. Mankoff's wife.
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<PAGE>
CUSIP No. 749207106 Schedule 13G Page 6 of 6 Pages
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
RONALD M. MANKOFF
RJM PROPERTIES, LTD.
By: /s/ Ronald M. Mankoff
Authorized signatory
CORPDAL:61726.1 28835-00003
