Conn. Gen. Stat. § 20-324e: Procedure.

(a) When any aggrieved person obtains a binding arbitration decision, administrative decision, court judgment, order or decree against any real estate licensee or the unlicensed employee of any such real estate licensee for loss or damages sustained by reason of the embezzlement of money or property, or money or property unlawfully obtained from any person by false pretenses, artifice or forgery or by reason of any fraud, misrepresentation or deceit by or on the part of such real estate licensee or the unlicensed employee of any such real estate licensee, such aggrieved person may upon the final determination of, or expiration of time for appeal in connection with, any decision, judgment, order or decree, apply to the department for an order directing payment out of the Real Estate Guaranty Fund of the amount unpaid upon the decision, judgment, order or decree, subject to the limitations stated in section 20-324a and the limitations specified in this section.

(b) The department shall proceed upon such application in a summary manner, and the aggrieved person shall be required to show that: (1) Such aggrieved person is not a spouse of the debtor or the personal representative of such spouse; (2) such aggrieved person has complied with all the requirements of this section; (3) such aggrieved person has obtained a decision, judgment, order or decree as provided in subsection (a) of this section, stating the amount thereof and the amount owing thereon at the date of the application; (4) such aggrieved person has caused to be issued a writ of execution upon the decision, judgment, order or decree and the officer executing the same has made a return showing that no personal or real property of the debtor liable to be levied upon in satisfaction of the decision, judgment, order or decree could be found, or that the amount realized on the sale of them or of such of them as were found, under the execution, was insufficient to satisfy the decision, judgment, order or decree, stating the amount so realized and the balance remaining due on the decision, judgment, order or decree after application thereon of the amount realized; (5) such aggrieved person has made all reasonable searches and inquiries to ascertain whether the real estate licensee or unlicensed employee of a real estate licensee possesses real or personal property or other assets, liable to be sold or applied in satisfaction of the decision, judgment, order or decree; and (6) that by such search such aggrieved person has discovered no personal or real property or other assets liable to be sold or applied, or that such aggrieved person has discovered certain of them, describing them, owned by the real estate licensee or unlicensed employee of a real estate licensee and liable to be so applied, and that such aggrieved person has taken all necessary action and proceedings for the realization thereof, and that the amount thereby realized was insufficient to satisfy the decision, judgment, order or decree, stating the amount so realized and the balance remaining due on the decision, judgment, order or decree after application of the amount realized.

(c) Whenever the aggrieved person satisfies the department that it is not practicable to comply with one or more of the requirements enumerated in subdivisions (4), (5) and (6) of subsection (b) of this section and that such aggrieved person has taken all reasonable steps to collect the amount of the decision, judgment, order or decree or the unsatisfied part thereof and has been unable to collect the same, the department may in its discretion waive such requirements.

(d) The department shall order payment from the Real Estate Guaranty Fund of any sum it shall find to be payable upon the claim, pursuant to the provisions of and in accordance with the limitations contained in this section and section 20-324a, if the department is satisfied of the truth of all matters required to be shown by the aggrieved person by subsection (b) of this section and that such aggrieved person has fully pursued and exhausted all remedies available to such aggrieved person for recovering the amount awarded by the decision, judgment, order or decree.

(e) If the department pays from the Real Estate Guaranty Fund any amount in settlement of a claim or toward satisfaction of a decision, judgment, order or decree against a real estate licensee or an unlicensed employee of a real estate licensee pursuant to an order under subsection (d) of this section, such person shall not be eligible to receive a new license until such person has repaid in full, plus interest at the rate of ten per cent per year. A discharge in bankruptcy shall not relieve a person from the penalties and disabilities provided in this subsection.

(f) If, at any time, the money deposited in the Real Estate Guaranty Fund is insufficient to satisfy any duly authorized claim or portion thereof, the department shall, when sufficient money has been deposited in the fund, satisfy such unpaid claims or portions thereof, in the order that such claims or portions thereof were originally filed, plus accumulated interest at the rate of four per cent a year.