10-Q/A

 
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                  FORM 10-Q/A
                                AMENDMENT NO. 1

Mark One

[X]  Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange
     Act of 1934 for the quarterly period ended March 31, 1995.

[ ]  Transition report pursuant to section 13 or 15(d) of the Securities 
     Exchange Act of 1934 for the Transition period from _________ to _________.

Commission file number 33-1983

                          SURETY CAPITAL CORPORATION
            (Exact name of registrant as specified in its charter)

          Delaware                                        75-2065607
(State or other jurisdiction of             (IRS Employer Identification Number)
 incorporation or organization)

            1845 Precinct Line Road, Suite 100, Hurst, Texas 76054
                   (Address of principal executive offices)

                                (817) 498-2749
             (Registrant's telephone number, including area code)


Indicate by check mark whether the registrant (1) has all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the 
preceding 12 months (or for such shorter period that the registrant was 
required to file such reports), and (2) has been subject to such filing 
requirements for the past 90 days.

Yes  x   No
    ---     ---

Common stock outstanding on April 27, 1995, 3,040,829 shares


 
                          PART II - OTHER INFORMATION

Item 1.         Legal Proceedings.

        Not applicable.

Item 2.         Changes in Securities.

                Not applicable.

Item 3.         Defaults Upon Senior Securities.

        Not applicable.

Item 4.         Submission of Matters to a Vote of Security Holders.

        Not applicable.

Item 5.         Other Information.

        Not applicable.

Item 6.         Exhibits and Reports on Form 8-K.

        (a)     Exhibits

                3.01    Certificate of Incorporation of the Company.  (1) (3.01)

                3.02    Amendment to the Certificate of Incorporation, dated 
                        April 8, 1987.  (2) (3.02)

                3.03    Certificate of Amendment to the Company's Certificate of
                        Incorporation, as filed with the Delaware Secretary of 
                        State on April 4, 1988.  (3) (3.04)

                3.04    Amendment to the Certificate of Incorporation, dated 
                        June 14, 1993.  (4)

                3.05    Restated Bylaws of the Company.  (5)

                10.01   Renewal of Promissory Note in the original principal
                        amount of $1,750,000, with Surety Capital Corporation as
                        borrower, and Overton Bank and Trust, N.A. as lender,
                        dated March 9, 1995. (5) (10.08)

                10.02   Surety Capital Corporation 1995 Incentive Stock Option 
                        Plan.  (5) (10.12)

                27      Financial Data Schedule*

- ---------------------------

         *      Filed herewith.

        (1)     Filed with Registration  Statement No. 33-1983 on Form S-1 and 
                incorporated by reference herein.

        (2)     Filed with the Company's Form 10-K dated October 31, 1987 and 
                incorporated by reference herein.

EX-27

 


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