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The history of Serbian mortgage law is not too long. The mortgage law began in first half of XIX century. The first Act about mortgage was The Intabulation Law from 1839. year. Mortgage is a right of lien on an immovable which autorhorises the creditor to seek satisfaction of his claim for the value of such immovable before of other creditors that do not have mortgage on it, as well as before creditors who have acquired mortgage on such immovable subsequent on him, irrespective of a contingent change of owner of the encumbered immovable. The mortgage was based on some rules. The mortgage is accessory rights. One of the basic features of a security right is its dependence on the claim. The mortgage creditor is entitled to request satisfaction of the claim from the value of immovable encumbered by mortgage, regardless of whether it is still in possession of the mortgage debitor or it has been convened into ownership of a third party. This The Intabulation Law is changed twice. For the first time in 1842 year, and second time in 1853. year. The lack of both changes was missing the principle of speciality. Principle of speciality marks the fact that a guarantee (security), may secure only a definite claim of one creditor and that the guarantee may exist only on a definite set of objects (assets). On one hand speciality of real security interest forbids securing an indefinite number of claims or an indefinite amount of claim, and, on the other, forbids the prospect of indefinite assets, or all assets of the debitor be subject of to such a security interest. This lack are eliminate in the new Intabulation Law from 1854. year, which was incorporated into Serbian Civil Code from 1844. year. The subject of this article is The Intabulation Law from 1854. year. [ABSTRACT FROM AUTHOR]

Life insurance is a mutual guarantee of a large number of people with the same danger where the danger is random and can be measured and evaluated. The guarantee is represented by establishing the fund which is formed by money deposits made by endangered individuals who by doing that become members of the community of life insurance risk. These funds are used only to pay off the arranged amount to the member of the community when the insured accident occurs. A part of the financial means of the fund includes a mathematical reserve which serves as a collateral of future risks. These means are temporarily free means and are managed by the insurance company. The task of the insurance company is to keep the real value of the mathematical reserve as well as to increase its value. Therefore, the insurance company invests them, till the moment when these resources need to be used as collateral for the risk, in order to gain additional income. In order to achieve an efficient and economically efficient investment of the mathematical reserve, the original model has been designed. Designed and written model and its solution are the contribution of this paper. The key to the model provides a structure of the portfolio for investment of the mathematical reserve which ensures the required income from its investment with the minimum risk. Value added of the key to the model is the fact that it enables a post-optimal programming and simulation. This enabled a calculation of a sufficient number of investment portfolios ' structures. Furthermore, this enabled a decision maker to use a high quality tool for managing risk of mathematical reserve investments as well as the overall risk of the life insurance. [ABSTRACT FROM AUTHOR]

Fiduciary transfer of property rights for the purpose of loan security represents the non-possessory form of collateral, which experiences renaissance in the comparative law. It is a complex legal institute, which is subject to numerous concerns and can be viewed from different perspectives, due to the large number of its specific features -- non typical for the Continental European legal systems. The paper discusses disputed issues related to defining the causa, as well as the legal grounds, for fiduciary transfer of property rights, its legal nature and the justification thereof. Aiming at more adequate understanding of this complex Property Law institute and finding satisfactory answers to some of the disputed issues the legal theory has opened, the author analyses provisions of current legislation in Montenegro, which was the first country in the Region to regulate this non-possessory form of collateral. [ABSTRACT FROM AUTHOR]