The Law on Registered Security Interests in Movables, enacted in 2003, introduced registration of non-possessory security in movables (registered pledge) in Serbia. A range of assets can be subject to a pledge, whether tangible or intangible, including money deposited on a bank account or claims arising out of an insurance contract, whether existing or future. Since 2005 the Pledge Register is run by the Serbian Business Registers Agency. It is a centralised electronic database of data concerning pledge. The Register can be searched using three basic search strings, which are: (i) parties to a pledge (pledgor or pledgee); (ii) object of the pledge (searchable by, for example, registration number, model number, producer name and type of object); (iii) submission number in the Register of Pledges (the so-called “ZL.no.”) which is assigned by the Registers Agency.
Following the reforms in 2011, the priority of creditors holding a registered pledge is determined according to the time of registration.
For further information see the Serbian Business Registers Agency
Key legislation (listed and available at Serbian Business Registers Agency website):
- Law on Pledge of Movable Assets in the Pledge Registry (Official Gazette No 57/03, 61/05 and 64/06);
- Law on the procedure of registration with the Serbian Business Registers Agency RS Official Gazette No 99/11);
- Law on enforcement and security (RS Official Gazette No 31/11).