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The board of directors is empowered to discuss and take action on , pursuant to the provisions of the articles of association of the equity joint venture , all fundamental issues concerning the venture , namely , expansion projects , production and business programmes , the budget , distribution of profits , plans concerning manpower and pay scales , the termination of business , the appointment or hiring of the president , the vice-president ( s ) , the chief engineer , the treasurer and the auditors as well as their functions and powers and their remuneration , etc. In North Carolina , the fundamental issue addressed by election protest rules is , " is there substantial evidence to believe that a violation of the election law or other irregularity or misconduct did occur and that it was sufficiently serious to cast doubt on the apparent results of the election .