FORM 8-K
Securities and Exchange Commission
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): November 23, 1999
Surety Capital Corporation
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(exact name of registrant as specified in its charter)
Delaware 33-1983 75-2065607
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
1501 Summit Avenue, Fort Worth, Texas 76102
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(address of principal executive offices)
Registrant's telephone number, including area code: 817-335-5955
1845 Precinct Line Road, Suite 100, Hurst, Texas 76054
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(Former name or former address, if changed since last report)
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Item 5. Other Events
The Annual Report on Form 10-K (filed with the Securities
and Exchange Commission on April 15, 1999) to which this
amendment relates reported the audited financial statements of
Registrant as of December 31, 1998 and 1997 and for the years
ended December 31, 1998, 1997 and 1996.
As previously announced by the Registrant and reported in
its Current Report on Form 8-K (filed with the Securities and
Exchange Commission on November 12, 1999), Registrant has not
finalized its operating results for the quarter ending September
30, 1999 pending the results of a review of the insurance
premium finance division of its wholly-owned subsidiary, Surety
Bank, National Association ("Surety Bank"). In connection with
that review, which is still ongoing, the Registrant disclosed
that loan loss provisions may be increased or other potential
adjustments may be required that may affect the third quarter of
1999 and prior periods and that may require restatement of prior
period financial statements of the Registrant.
As a result, the Registrant and its independent auditors
have determined that the financial statements of Registrant and
related independent auditors reports thereon filed in the above-
referenced Annual Report on Form 10-K may contain material
errors and should therefore not be relied upon by investors for
any purpose.
The Registrant intends to cause the financial statements of
the Registrant to be re-audited for the periods covered by the
referenced Annual Report on Form 10-K.
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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.
SURETY CAPITAL CORPORATION
DATE: November 10, 1999 /s/ Charles M. Ireland
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Charles M. Ireland, Chairman of
the Board
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