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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )<F*>
AutoBond Acceptance Corporation
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(Name of Issuer)
15% Series A Cumulative Preferred Stock
(Title of Class of Securities)
05218-20-8
(CUSIP Number)
Janette Williams
Lincoln Heritage Corporation
1250 Capital of TX Hwy, Bldg 3., Suite 100
Austin, TX 78746
(512) 328-0075
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(Name, Address, and Telephone Number of Person Authorized to Receive
Notices and Communications)
9/15/98
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ X ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
<F*>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).
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CUSIP NO. 05218-20-8 PAGE 2 OF 10 PAGES
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1 NAMES OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Lincoln Heritage Corporation 36-3427454
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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5 SOLE VOTING POWER
NUMBER OF SHARES 0
BENEFICIALLY -----------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 225,000<F*>
PERSON -----------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
0
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8 SHARED DISPOSITIVE POWER
225,000<F*>
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
225,000<F*>
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
20.0%
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12 TYPE OF REPORTING PERSON
HC
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[FN]
<F*>See Item 4 of this Schedule 13G.
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CUSIP NO. 05218-20-8 PAGE 3 OF 10 PAGES
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1 NAMES OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Lincoln Memorial Life Insurance Corporation 74-2552026
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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5 SOLE VOTING POWER
NUMBER OF SHARES 0
BENEFICIALLY -----------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 100,000<F*>
PERSON -----------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
0
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8 SHARED DISPOSITIVE POWER
100,000<F*>
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,000<F*>
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.9%
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12 TYPE OF REPORTING PERSON
IC
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[FN]
<F*>See Item 4 of this Schedule 13G.
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CUSIP NO. 05218-20-8 PAGE 4 OF 10 PAGES
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1 NAMES OF REPORTING PERSONS
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Memorial Service Life Insurance Corporation 75-2140915
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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5 SOLE VOTING POWER
NUMBER OF SHARES 0
BENEFICIALLY -----------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 125,000<F*>
PERSON -----------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
0
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8 SHARED DISPOSITIVE POWER
125,000<F*>
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
125,000<F*>
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.1%
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12 TYPE OF REPORTING PERSON
IC
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[FN]
<F*>See Item 4 of this Schedule 13G.
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CUSIP NO. 05218-20-8 PAGE 5 OF 10 PAGES
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ITEM 1. (a) Name of Issuer:
AutoBond Acceptance Corporation (the "Issuer")
(b) Address of Issuer's Principal Executive Offices:
100 Congress Ave., Sixth Floor
Austin, TX 78701
ITEM 2. (a) Name of Person Filing:
The names of the persons filing this statement on Schedule 13G
(the "Reporting Persons") are (i) Lincoln Heritage Corporation,
(ii) Memorial Service Life Insurance Company, and (iii) Lincoln
Memorial Life Insurance Company.
(b) Address of Principal Business Offices or, if none,
Residence:
LINCOLN HERITAGE CORPORATION:
The business address is 1250 Capital of TX Hwy., Bldg 3., Suite
100, Austin, TX 78746
MEMORIAL SERVICE LIFE INSURANCE CORPORATION:
The business address is 1250 Capital of TX Hwy., Bldg 3., Suite
100, Austin, TX 78746
LINCOLN MEMORIAL LIFE INSURANCE CORPORATION:
The business address is 1250 Capital of TX Hwy., Bldg 3., Suite
100, Austin, TX 78746
(c) Citizenship:
Lincoln Heritage Corporation, Memorial Life Insurance Company,
and Lincoln Memorial Life Insurance Company are Texas
Corporations
(d) Title of Class of Securities:
15% Series A Cumulative Preferred Stock (the "Preferred Stock")
(e) CUSIP Number:
05218-20-8
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CUSIP NO. 05218-20-8 PAGE 6 OF 10 PAGES
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b) OR
SECTIONS 240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING
IS A:
(a) [ ] Broker or Dealer registered under Section 15
of the Act (15 U.S.C. 78o)
(b) [ ] Bank as defined in Section 3(a)(6) of the Act
(15 U.S.C. 78c)
(c) [X ] Insurance Company as defined in Section
3(a)(19) of the Act (15 U.S.C. 78c) for Memorial
Service Life Insurance Company and Lincoln Memorial
Life Insurance Company
(d) [ ] Investment Company registered under Section 8
of the Investment Company Act of 1940 (15 U.S.C.
809-8)
(e) [ ] An investment adviser in accordance with
Section 240.13d-1(b)(1)(ii)(E)
(f) [ ] An employee benefit plan or endowment fund in
accordance with Section 240.13d-1(b)(1)(ii)(F)
(g) [X ] A parent holding company or control person,
in accordance with Section 240.13d-1(b)(ii)(G) for
Lincoln Heritage Corporation
(h) [ ] A savings association as defined in Section
3(b) of the Federal Deposit Insurance Act (12
U.S.C. 1813)
(i) [ ] A church plan that is excluded from the
definition of an investment company under section
3(c)(14) of the Investment Company Act of 1940 (15
U.S.C. 80-a-3)
(j) [ ] Group, in accordance with Section
240.13d-1(b)(1)(ii)(J)
ITEM 4. OWNERSHIP.
The information in items 1 and 5-11 on each of the cover pages
of this Schedule 13G is hereby incorporated by reference.
Lincoln Memorial Life Insurance Company is the record holder of
100,000 shares or 8.9% of the Preferred Stock.<F**>
Memorial Service Life Insurance Company is the record holder of
125,000 shares or 11.1% of the Preferred Stock.<F**>
Lincoln Heritage Corporation owns 100% of both Lincoln Memorial
Life Insurance Company and Memorial Service Life Insurance
Company. Lincoln Heritage Corporation is filing this joint
statement with Lincoln Memorial Life Insurance Company and
Memorial Service Life Insurance Company as a result of this
ownership from which Lincoln Heritage Corporation may be deemed
to share the power to direct the voting or disposition of the
Preferred Stock owned by Lincoln Memorial Life Insurance
Company and Memorial Service Life Insurance Company. Lincoln
Heritage Corporation owns no Preferred Stock directly, but may
be deemed to have beneficial ownership of the 225,000 total
shares held by its subsidiaries or an aggregate of 20% of the
total number of outstanding shares of the Preferred Stock.
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CUSIP NO. 05218-20-8 PAGE 7 OF 10 PAGES
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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.
Memorial Service Life Insurance Company, a Texas corporation
and Lincoln Memorial Life Insurance Company, a Texas
corporation are the subsidiaries which acquired the securities
being reported on by Lincoln Heritage Corporation, the parent
holding company filing pursuant to Rule 13d-1(b)(1)(ii)(C).
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not Applicable.
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CUSIP NO. 05218-20-8 PAGE 8 OF 10 PAGES
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ITEM 10. CERTIFICATIONS.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in
the ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in any
transaction having such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth on this statement is true,
complete and correct.
Date: November 9, 1998
For Lincoln Heritage Corporation:
/s/ Clifton Mitchell
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Signature
Clifton Mitchell, Executive Vice President - Actuarial
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Name/Title
For Memorial Service Life Insurance Corporation:
/s/ Clifton Mitchell
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Signature
Clifton Mitchell, Executive Vice President - Actuarial
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Name/Title
For Lincoln Memorial Life Insurance Corporation:
/s/ Clifton Mitchell
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Signature
Clifton Mitchell, Executive Vice President - Actuarial
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Name/Title
[FN]
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<F**> Computational Note: Based upon 1,125,000 shares of the
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Company's Preferred Stock issued and outstanding as of June 30,
1998.
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CUSIP NO. 05218-20-8 PAGE 9 OF 10 PAGES
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EXHIBIT INDEX
Exhibit 1 Joint Filing Agreement
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CUSIP NO. 05218-20-8 PAGE 10 OF 10 PAGES
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EXHIBIT 1
TO
SCHEDULE 13G
JOINT FILING AGREEMENT
Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934,
as amended, the persons named below agree to the joint filing on behalf
of each of them a Statement on Schedule 13G (including any amendments
thereto) with respect to the Preferred Stock of AutoBond Acceptance
Corporation and further agree that this Joint Filing Agreement be
included as an Exhibit to such joint filings. In evidence thereof, the
undersigned hereby execute this Joint Filing Agreement as of the 9th day
of November, 1998.
For Lincoln Heritage Corporation:
/s/ Clifton Mitchell
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Signature
Clifton Mitchell, Executive Vice President - Actuarial
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Name/Title
For Memorial Service Life Insurance Corporation:
/s/ Clifton Mitchell
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Signature
Clifton Mitchell, Executive Vice President - Actuarial
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Name/Title
For Lincoln Memorial Life Insurance Corporation:
/s/ Clifton Mitchell
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Signature
Clifton Mitchell, Executive Vice President - Actuarial
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Name/Title
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