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| FORM 5 |
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[ ] Check this box if no longer subject to ----------------------------------
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
<TABLE>
<S> <C> <C>
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1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol
Gonzalez Manual A Name: AutoBond Acceptance Corporation
- ------------------------------------------------------------------------ Trading Symbol: "ABND"
(Last) (First) (Middle)
22211 Eastex Freeway
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(Street) 3. IRS or Social Se- 4. Statement for Month/Year
curity Number of FEBRUARY 1997
Kingwood Texas 77339 Reporting Person
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(City) (State) (Zip) 5. If Amendment, Date of Original
(Month/Year)
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</TABLE>
<TABLE>
<S> <C>
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XX Director 10% Owner
____ _____
____ Officer (give _____ Other (specify
title below)
below)
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7. Individual or Joint/Group Filing
(Check applicable line)
X Form filed by One Reporting Person
____
Form filed by More than One Reporting Person
____
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</TABLE>
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<TABLE>
<CAPTION>
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TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<S> <C> <C> <C>
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1. Title of Security 2. Transaction 3. Transac- 4. Securities Acquired (A)
(Instr. 3) Date tion Code or Disposed of (D)
(Month/Day (Instr. 8) (Instr. 3, 4 and 5)
/Year)
--------------------------
Amount (A) or Price
(D)
Common Stock 2/4/97 P 500 A $9.50
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<CAPTION>
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TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<S> <C> <C>
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5. Amount of 6. Ownership 7. Nature of
Securities Form: Indirect
Beneficially Direct (D) Beneficial
Owned at or Indirect Ownership
End of (I) (Instr. 4) (Instr. 4)
Issuer's
Fiscal Year
(Instr. 3
and 4)
O D
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</TABLE>
<TABLE>
<S> <C>
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*If the form is filed by more than one Reporting Person, see Instruction 4(b)(v). SEC 2270 (7-96)
</TABLE>
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FORM 5 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<TABLE>
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transaction 5. Number of Derivative
(Instr.3) sion or action Code Securities Acquired (A) or
Exercise Date (Instr. 8) Disposed of (D)
Price of (Month/ (Instr. 3, 4 and 5)
Derivative Day/
Security Year)
(A) (D)
<CAPTION>
<S> <C> <C> <C> <C>
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STOCK OPTION $10.50 PER
SHARE 11/14/1996 A 1
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</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C>
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6. Date Exercisable and 7. Title and Amount of 8. Price of 9. Number of 10. Ownership 11. Nature of
Expiration Date Underlying Securities Deriva- Derivative Form of Indirect
(Month/Day/Year) (Instr. 3 and 4) tive Securities Derivative Beneficial
Security Beneficially Security: Ownership
Date Exer- Expiration Amount or (Instr. Owned at Direct (D) (Instr. 4)
cisable Date Title Number of 5) End of or Indirect
Shares Year (I) (Instr. 4)
(Instr. 4)
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11/14/1997 11/14/2006 COMMON 3,000 $0 1 D
STOCK
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</TABLE>
Explanation of Responses:
<TABLE>
<S> <C>
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
</TABLE>
/s/ Manual A. Gonzalez 2/14/97
_______________________________________ _____________________________
**Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
PAGE 2
SEC 2270 (7-96)
