LAW FOR THE REGISTERED PLEDGES
Chapter three.
EFFECT OF THE PLEDGE ON THIRD PERSONS
Opposition to rights
Art. 12. (1) (amend. SG 42/99) The pledge, established by the order
of this law, cannot be opposed to third persons, if it has not been
entered in the Central Register of the registered pledges, in the lot
of the pledge holder.
(2) (amend. SG 42/99) The pledge at claim, the contract for sale with
retaining the ownership until the
payment of the price, the leasing contract and the distraint cannot
be opposed to the creditor in whose favour,
under the conditions and by the order of this law, pledge is established
on taking or on sold, leased or
distl'ained property, if they are not entered in the Central Register
of the registered pledges in the lot of the
pledge holder.
(3) When this law stipulated entering in another register, the opposition
shall ensue from the entering in the other
register. Consecution of the pledge over totality
Art. 15. (1) (suppl. SG 19/03) The seller of a separate chattel or right,
having received as security of his taking of the price, a pledge of
the chattel or the right, shall be indemnified by its price prior to
the creditor, who has registered earlier pledge of the totality, part
of which has become the chattel or the right. The same rights shall
also have a person, to whom has been conceded pledge of a chattel or
right for securing of lean, conceded by him for acquiring of the chattel
or the right.
(2) The rights of the seller, who has retained his ownership until the
payment of the price and the rights of the
lessor, shall be opposable to the creditor who has registered earlier
a pledge over totality.
(3) The right of preference of indemnification under para 1 and the
opposition under para 2 shall be acquitted
if the pledge, the sale or, respectively, the leasing are not registered
within 14 days from their conclusion.
Chapter six. ENTERING
Circumstances subject to entering
Art. 26. (1) The following circumstances shall be entered in the register:
1. (amend. SG 42/99) the name, the UCC and the address, respectively
the firm, the number and the lot of
registration in the corresponding register and the address of management
of:
a) the debtor;
b) the pledge holder for indemnification of foreign debt;
c) the pledge creditor;
d) the seller and the buyer under a sale contract, with retaining the
ownership until the payment of the price;
e) the user and the lessor under a leasing contract;
f) the person, to whom the pledged taking should be indemnified until
the execution;
2. description of the secured taking or the amount for which the pledge
has been established;
3. (amend. SG 42/99) description of the pledged, respectively sold with
retaining the ownership until the
payment of the price or the leased property and its price, if specified;
4. (amend. SG 42/99) the period of the pledge;
5. (amend. SG 42/99) the terms of the pledge.
(2) The register shall also contain:
1. the transfer of the secured taking, respectively the rights of the
seller and the lessor;
2. entering the rights of the secured taking, respectively the rights
of the seller and the lessor;
3. renewal and substitution for the taking;
4. acquiring rights on the pledged property;
5. (amend. SG 42/99) other changes of the entered circumstances;
6. (repealed SG 42/99);
7. (repealed SG 42/99).
(3) Subject to entering shall also be:
1. the distraint on the property under Art. 4;
2. the distraint on the secured taking;
3. (new - SG 42/99) the renewal of the entering;
4. (prev. 3 - SG 42/99) the starting of execution;
5. (prev. 4 - SG 42/99) the quitting of execution;
6. (prev. 5 - SG 42/99) the name, UCC and the address of the depository;
7. (prev. 6 - SG 42/99) the name, UCC and the address of the manager
of the enterprise;
8. (prev. 7 - SG 42/99) the invitation by the merchant to the pledge
creditor for appointment of manager of
enterprise;
9. (prev. 8 - SG 42/99) the decision for opening proceedings for insolvency;
10. (prev. 9 — SG 42/99) the decision for declaring insolvency.
Request for entering and deleting (amend. SG 42/99)
Art. 27. (1) (amend. SG 42/99) The entering and deleting shall be made
at the request of the interested person. The request shall contain the
circumstances subject to entering.
(2) The request for entering circumstances under Art. 26, para 1 shall
be accompanied by a written consent for the entering, with notary certification
of the signature of the pledge holder, of the buyer of the payment,
or of the user under a leasing contract. Notary certification of the
signature shall not be required if it has been signed before an employee
of the register, who shall certify this circumstance.
(3) The request for entering circumstances under Art. 26, para 2 shall
be accompanied by a written consent for
entering the person, against which rights of the entering can be drawn.
(4) (new — SG 42/99) To the claim for deleting of entering shall
be attached written consent for deleting with
notarial certification of the signature of the pledge creditor, the
seller with instalments or the lessor. Notarial
certification of the signature shall not be required if it is made before
an official of the register who certifies
this circumstance.
Transitional and concluding provisions
§ 1. (1) The contracts for pledge, concluded on the grounds of
Art. 36 and 37 of the Law for the banks and credit and Art. 12 of the
Law for the economic activity of foreign persons and for protection
of the foreign investments, shall retain their effect, applying the
provisions of this law.
(2) (amend. SG 86/97) The contracts under para 1, having become opposable
under the conditions and by the order
of Art. 156, para 2 and Art. 162 of the Law for the obligations and
contracts, shall retain their opposition for a
duration often months after this law enters into force. The requirement
under Art. 27, para 2 shall not apply for the
registration of these contracts.
(3) (new - SG 86/97) Foe the entering of the contracts of para 1 shall
not be applied the requirement of art. 27, para 2.
§ 2. § 1, para 2 shall also apply to sale contracts with retaining
the ownership until the payment of the price, having become opposable
under the conditions and by the order of Art. 205 of the Law for obligations
and contracts.
§ 3. (1) Art. 15, para 1 and 2 shall apply for the found pledge
contracts, the sale with retained ownership until the payment of the
price and leasing, if the contracts are registered within 14 days after
this law enters into force.
(2) Art. 27, para 2 shall not apply for registration of contracts under
para 1, with valid date.
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