SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __)*
ALRENCO, INC.
(Name of Issuer)
COMMON STOCK, NO PAR VALUE
(Title of Class of Securities)
02109K 10 1
(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 page(s))
Page 1 of 4 Pages
<PAGE>
CUSIP No. 02109K 10 1 13G
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael D. Walts
###-##-####
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
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER
2,090,000
6. SHARED VOTING POWER
- 0 -
7. SOLE DISPOSITIVE POWER
2,090,000
8. SHARED DISPOSITIVE POWER
- 0 -
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,090,000
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
34.4%
12. TYPE OF REPORTING PERSON
IN
Page 2 of 4 Pages
<PAGE>
ITEM 1. NAME OF ISSUER
(a),(b) The name of the issuer of the securities covered by this
statement is Alrenco, Inc. The issuer's principal executive
offices are located at 1736 East Main Street, New Albany, Indiana
47150.
ITEM 2. NAME OF PERSON FILING
(a),(b),(c) The name of the person filing this statement is
Michael D. Walts, whose principal business address is 1736 East
Main Street, New Albany, Indiana 47150. Mr. Walts is a citizen
of the United States.
(d),(e) The title of the class of securities covered by this
statement is Common Stock, no par value. The CUSIP Number of the
Common Stock is 20109K 10 1.
ITEM 3. STATEMENTS FILED PURSUANT TO RULES 13D-1(B) OR 13D-2(B)
Not applicable
ITEM 4. OWNERSHIP
(a),(b),(c) The number of shares of Common Stock beneficially
owned by Mr. Walts as of December 31, 1996 was 2,090,000 (34.4%
of the total shares outstanding). All of such shares are held
with sole voting and investment power.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable
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
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
Page 3 of 4 Pages
<PAGE>
SIGNATURE
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.
Dated: February 13, 1997
----------------------------------------
Michael D. Walts
Page 4 of 4 Pages
