EXHIBIT 16.

Item 4. Changes in Registrant's Certifying Accountant.

 (b) Item 304(a)(1) of Regulation S-B:

     304(a)(1)(i): The former accountant, Mauldin & Jenkins, resigned May 15,
     1996, as stated in a letter from Mauldin & Jenkins attached hereto as
     Exhibit "(7)(c)(1)" and made a part hereof.

     304(a)(1)(ii): Mauldin & Jenkins' report on the financial statements for
     either of the past two years did not contain any adverse opinion or
     disclaimer of opinion, nor were such reports modified as to uncertainty,
     audit scope, or accounting principles.

     304(a)(1)(iii): As of May 15, 1996, the resignation of Mauldin & Jenkins
     has not yet been accepted or approved by the Board of Directors or an audit
     or similar committee of the Board of Directors.

     304(a)(1)(iv): As to Security Land's two most recent fiscal years or any
     later interim period, there were no disagreements with Mauldin & Jenkins
     (the "Accountant") on any matter of accounting principles or practices,
     financial statement disclosures, or auditing scope or procedure, which, if
     not resolved to the Accountant's satisfaction, would have caused it to make
     reference to the subject matter of the disagreement(s) in connection with
     its report.  The Accountant did not advise Security Land of any of the
     following:

             (1) That internal controls necessary to develop reliable financial
             statements did not exist; or

             (2) That information has come to the attention of the former
             Accountant which made it unwilling to rely on management's
             representations, or unwilling to be associated with the financial
             statements prepared by management; or

             (3) That the scope of the audit should be expanded significantly,
             or information has come to the Accountant's attention that it
             concluded will, or if further investigated might, materially impact
             the fairness or reliability of a previously issued audit report or
             the underlying financial statements, or the financial statements
             issued or to be issued covering the fiscal period(s) subsequent to
             the date of the most recent audited financial statements (including
             information that might preclude the issuance of an unqualified
             audit report), and the issue was not resolved to the Accountant's
             satisfaction prior to its resignation or dismissal.

     304(a)(2): The Company has not yet engaged other accountants.

     Item 304(a)(3) of Regulation S-B:
 
             Letter from Mauldin & Jenkins attached hereto as Exhibit
             "(7)(c)(2)" and made a part hereof.


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     Item 7.  Financial Statements and Exhibits.

 (C) Exhibits.

     (1) Letter of Mauldin & Jenkins resignation.

     (2) Letter of Mauldin & Jenkins required by Item 304(a)(3) of 
Regulation S-B.

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.



                                   Security Land and Development Corporation
- --------------------------
Date

                                   By:
                                      ----------------------------------------
                                      T. Greenlee Flanagin, President



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