Nature of secured stocks of joint-stock managers

According to the article 114 of amended legal commercial bill concerning the joint-stock companies, till the manager has not balanced with the company, his stocks will be distrained in the company safe. The questions are: what is the nature of the stocks? And whether the word "manager" includes the director or not? And if the answer is positive, how the article 114 will be executed in the cases in which the director is elected from non-stockholders? in this article, in order to answer these questions, we have studied different kinds of collateral, the nature of the stocks, the nature of the managers, and the jurists' approaches about them. Finally, we concluded that the stocks collateral is an independent legal institution from mortgage contract. The intended purpose of the legislator by the word "manager" is only the board of directors and does not include the director.