Rule 16-117. Sale of a law practice.

A lawyer or a law firm may sell or purchase a law practice or an area of practice, including good will, if the following conditions are satisfied: A. The seller ceases to engage in the private practice of law or in the area of practice that has been sold in the jurisdiction in which the practice has been conducted; B. The entire practice or the entire area of practice is sold to one or more lawyers or law firms; C. The seller gives written “notice” to each of the seller’s clients for whom the attorney is performing ongoing legal service at the time of the sale or for whom the attorney has performed any legal services within twelve (12) months prior to the date of sale regarding: (1) the proposed sale and that the seller has ceased to engage in the private practice of law or in the area of practice that has been sold; (2) the name and address of the purchaser; (3) the client’s right to retain other counsel or to take possession of the file; and (4) 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 sixty (60) days of receipt of the notice; D. If the client cannot be notified by written notice, the representation of that client may be transferred to the purchaser only: (1) upon entry of an order authorizing the transfer by a court having jurisdiction; or (2) by publishing notice once a week for two (2) consecutive weeks in a newspaper of general circulation in the county in which the seller’s principal office is located setting forth the matters specified in Subparagraphs (1), (2), (3) and (4) of Paragraph C of this rule, but not containing the name of the client. The published notice shall also contain the address where any person entitled to do so may object to the proposed transfer or claim the files within sixty (60) days after the final date of publication; and E. The fees charged clients shall not be increased by reason of the sale.