UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported) June 24, 1997
----------------------
RELIANCE ACCEPTANCE GROUP, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware 0-23854 36-3235321
(State or Other Jurisdiction Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
400 North Loop 1604 East, Suite 200, San Antonio, Texas 78232
(Address of Principal Executive Offices) (Zip Code)
(210) 496-5910
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 5: Other Events
On June 24, 1997, Jack E. Plunkitt became one of the principal executive
officers of Reliance Acceptance Group, Inc. ("RAG"). Jack E. Plunkitt became
President and Chief Operating Officer of RAG and was elected to fill a vacancy
on the Board of Directors of RAG pursuant to provisions of RAG's By-Laws.
On June 25, 1997, RAG announced that its Board of Directors elected to
suspend payment of its quarterly dividend. The Directors will review the
appropriateness of resuming the dividend for future quarters on an ongoing
basis.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: July 1, 1997 By: /s/ James I. Kaplan
------------------ -------------------------
Senior Vice President, General Counsel and
Corporate Secretary
- 2 -
