Consortium Management Co. v. Mutual America Corp.

Clarke, Justice.

Irondale Motel Associates is a limited partnership organized in DeKalb County, Georgia, in 1977. Under the original partnership agreement, Consortium Management Company was named as the general partner. However, on the day of its execution, the agreement was amended to add Guy D. Cleveland as a second general partner. Guy D. Cleveland is also a limited partner. Under the terms of the partnership agreement, a general partner may be removed by a vote of 75% of the partnership interest.

In 1979, Mutual America Corporation, the holder of 80% of the partnership interest, notified…