When questioned, our standard response has been that the statute requires it and if you don t like the statute, we are not the ones who can change it. While the statute does give us the authority to revoke the certificate of authority of a firm that has not complied with the reporting requirements, there are other, more compelling reasons to cooperate. A recent Court of Appeals case highlights the need to keep current on your professional firm filings. He has never filed his articles of incorporation with the Office of Lawyers Professional Responsibility Board. Nor has he made the mandatory annual filings with that organization.
Lawyers choose to practice in a particular format for a reason.
The reason may be tax considerations, liability concerns, succession of ownership concerns or simply a convenient means of management. Whatever the reason, if you do not keep up on your filings, you may lose the protection you sought.