|Exhibit
      10(b)
      
      SECOND AMENDMENT TO SUBORDINATED LOAN AGREEMENT
      FOR EQUITY CAPITAL
      
      This SECOND AMENDMENT TO SUBORDINATED LOAN AGREEMENT FOR EQUITY CAPITAL
      (this "Amendment") is entered into and effective as of September 13, 1999,
      (the "Effective Date"), by and between Sun America Inc. ("Lender") and Sun
      America Asset Management Corporation, Inc. ("Borrower"), with reference to
      the following recitals:
      RECITALS.
      A.     Effective September 13, 1993, Lender and
      Borrower entered into a Subordinated Loan Agreement for Equity Capital
      (the "Agreement"), pursuant to the terms of which Lender loaned to
      Borrower the sum of $14,000,000.00 (the "Principle Amount") and upon which
      interest was to be paid quarterly at the rate of seven percent (7%) per
      annum from the effective date of that Agreement (the "Loan").
      B.    The Loan was scheduled to mature on September 13,
      1996. However, pursuant to a Subordinated Loan Agreement Amendment
      Extending the Maturity Date dated September 3. 1996 (the "September 1996
      Amendment"), the parties agreed to extend the maturity date of the Loan to
      September 13, 1999 and to change the interest payable thereon from seven
      percent (7%) to nine percent (9%) per annum.
      C.    On the Effective Date, Borrower has paid to Lender
      the sum of $7,000,000.00, constituting partial repayment of the Principle
      Amount, leaving an unpaid principle balance of $7,000,000.00 (the "Unpaid
      Principle Amount") plus interest payable thereon as calculated in
      accordance with this Amendment.
      D.    In accordance with the terms and conditions of this
      Amendment, Lender and Borrower desire to amend the Agreement to extend the
      maturity date with respect to the Unpaid Principle Amount and to amend the
      interest rate payable thereon.
      NOW, THEREFORE,
      in consideration of the mutual promises and covenants contained in this
      Amendment and other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties hereto agree to
      amend the Agreement as follows:
      Section 1.
      Amendment to the Agreement.
      The second paragraph
      on the first page of the Agreement is amended to read in full as
      follows:
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|"In consideration of the sum of $7,000,000.00
      and subject to the terms and conditions hereinafter set forth, the
      Borrower promises to pay to the Lender or assigns on September 13, 2002
      (the "Scheduled Maturity Date") (the last day of the month at least three
      years from the effective date of this Agreement) at the principal office
      of the Lender the above-mentioned sum and interest thereon payable at the
      rate of eight percent (8%) per annum (interest to be paid quarterly) from
      the effective date of this Agreement, which date shall be the date so
      agreed upon by the Lender and Borrower."
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





|Section
      3.      Conflicts. Except as specifically
      amended by this Amendment, the provisions of the September 1996 Amendment
      shall be superseded by this Amendment and the Agreement shall continue in
      effect and shall bind the parties hereto. In the event there is a conflict
      between the provisions of the Agreement and this Amendment, the provisions
      of this Amendment shall in all respects control.
      Section
      4.      Counterparts. This Amendment may
      be signed in any number of counterparts, each of which shall be an
      original and all of which, taken together, shall constitute one and the
      same agreement.
      
      (The signature page follows)
      
      
      
      IN
      WITNESS WHEREOF, the parties hereto have executed this Amendment effective
      as of the Effective
Date.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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|LENDER: | SUNAMERICA INC                                                                  
|------- | --------------------------------------------------------------------------------
|        | By:    /s/James R. Belardi                                                      
|        | Name:   James R.
      Belardi          
      Title:   Executive Vice President



|BORROWER: | SUNAMERICA ASSET MANAGEMENT CORPORATION, INC.                                                                    
|--------- | -----------------------------------------------------------------------------------------------------------------
|          | By:    /s/Debbie Potash-Turner                                                                                   
|          | Name:   Debbie
      Potash-Turner                                      
      Title:     Chief Financial
Officer



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