A process for preparing a sulfonate terminated polyarylate comprises blending a polyarylate resin with an organic compound to form a reaction mixture, wherein the organic compound contains at least one aliphatic primary amine functional group and at least one other functional group selected from the group consisting of sulfonic acids, sulfonic acid salts, and mixtures thereof, and heating the reaction mixture to a temperature of 225 to 400° C. The temperature of heating is above the glass transition temperature of the polyarylate resin. Sulfonate terminated polyarylates and compositions prepared using the above process, and articles comprising the sulfonate terminated polyarylate compositions, are also disclosed.