SALE OF LAW PRACTICE

[Rule 1.17 replaced by Rule 1.17A, effective September 1, 2015] **** RULE 1.17A SALE OF LAW PRACTICE A lawyer or a law firm may sell or purchase a law practice, or an area of law practice, including good will, if all of the following conditions are satisfied: (a) The purchaser, who must be authorized to represent clients in the State of Maine and in matters to be transferred, assumes the obligations of an attorney to the clients whose files are transferred. (b) The seller gives the following notices: (1) written notice to each of the seller's current or former clients affected by the sale and to the Board of Overseers of the Bar regarding: (A) the proposed sale including the name of the purchasing attorney or the names of the attorneys who practice within the purchasing firm; (B) the client's right to retain other counsel or to take possession of the file; (C) the fact that the client's consent to the transfer of the client's files will be presumed if the client does not take any action or does not otherwise object within ninety (90) days of receipt of the notice; and 21 (D) the terms of any proposed change in the fee arrangement authorized by paragraph (c). (2) If a client cannot be given written notice, the representation of that client may be transferred to the purchaser only with the approval of the Board of Overseers of the Bar through its Bar Counsel. If Bar Counsel and the seller cannot agree on the steps adequate to attempt to give written notice, either party may petition the Supreme Judicial Court for an order from a Single Justice approving the transfer or ordering preconditions to transfer. (3) Further notice shall be given by publication in digital and paper versions of a newspaper of general circulation in each county in which the seller is engaging in the practice of law, at least thirty days before the anticipated transfer of files. Such notice shall include the anticipated date of sale and identification of the purchasing lawyer or firm, but not the identities of the clients being transferred. (c) The fees charged clients shall not be increased by reason of the sale.