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<S> <C>
FORM 4 U.S. SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
[ ] Check this box if no Washington, D.C. 20549 OMB Number: 3235-0287
longer subject to Section STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Expires: April 30, 1997
16, Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities Exchange Act of Estimated average burden
obligations may continue. 1934, Section 17(a) of the Public Utility Holding Company Act of hours per response 0.5
See Instruction 1(b). 1935 or Section 30(f) of the Investment Company Act of 1940
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<S> <C> <C>
1. Name and Address of 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to Issuer
Reporting Person AutoBond Acceptance Corporation--ABND (Check all applicable)
Winsauer William 0 XX Director XX 10% Owner
(Last) (First) (Middle) XX Officer (give __ Other (specify
title below)
301 Congress Avenue below)
(Street) 3. IRS or Social 4. Statement for Chairman of the Board
Security Number of Month/Year and Chief Executive Officer
Reporting Person November 1996 _______________________________
(Voluntary)
5. If Amendment,
###-##-#### Date of Original
(Month/Year)
Austin Texas 78701
(City) (State) (Zip)
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<CAPTION>
Table 1--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1. Title of Security 2. Transaction 3. Transaction 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature
(Instr. 3) Date (Month/ Code or Disposed of (D) Securities Form: Direct of Indirect
Day/Year) (Instr. 8) (Instr. 3, 4 and 5) Beneficially (D) or Beneficial
Owned at End Indirect (I) Ownership
Code V Amount (A) or Price of Month (Instr. 4) (Instr. 4)
(D) (Instr. 3
and 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 11/14/96 S 196,000 D $10.00 3,683,062 D
per share
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly (Over)
(Print or Type Responses)
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FORM 4 (continued)
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<CAPTION>
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivative Security 2. Conversion 3. Transaction 4. Transaction 5. Number of Derivative 6. Date
(Instr. 3) or Exercise Date Code Securities Acquired Exercisable
Price of (Month/ (Instr. 8) (A) or Disposed of and
Derivative Day/ (D) (Instr. 3, 4 and Expiration
Security Year) 5) Date
(Month/
Day/
Year)
Date Expira-
Exer- tion
Code V (A) (D) cisable Date
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Stock Option $10.50 11/14/96 A V 1 11/14/1997 11/14/2006
per share
<CAPTION>
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1. Title of Derivative Security 7. Title and 8. Price of 9. Number of 10. Ownership 11. Nature
(Instr. 3) Amount of Derivative Derivative Form of of Indirect
Underlying Security Securities Derivative Beneficial
Securities (Instr. 5) Beneficially Security: Ownership
(Instr. 3 Owned at Direct (D) (Instr. 4)
and 4) End of or
Month Indirect(I)
Title Amount or (Instr. 4) (Instr. 4)
Number of
Shares
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<S> <C> <C> <C> <C> <C> <C>
Stock Option Common 40,000 $0 1 D
Stock
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Explanation of Responses:
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient, see instruction 6 for procedure.
/s/ WILLIAM O. WINSAUER 12/9/96
____________________________________ _______
**Signature of Reporting Person Date
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