Connecticut § 20-324a - Real Estate Guaranty Fund.
Full text of Connecticut Connecticut General Statutes § 20-324a — Real Estate Guaranty Fund., with citation guidance and answers to common questions.
§ 20-324a. Real Estate Guaranty Fund.
Sec. 20-324a. Real Estate Guaranty Fund. The commission shall establish and maintain a Real Estate Guaranty Fund from which, subject to the provisions of this section and sections 20-324b to 20-324i, inclusive, any person aggrieved by any action of a real estate licensee, duly licensed in this state under section 20-312, 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 any such real estate licensee or the unlicensed employee of any such real estate licensee, may recover, upon approval by the commission of an application brought pursuant to the provisions of section 20-324e compensation in an amount not exceeding in the aggregate the sum of twenty-five thousand dollars in connection with any one real estate transaction or claim, regardless of the number of persons aggrieved or parcels of real estate involved in such real estate transaction or claim.
(1969, P.A. 525, S. 1; P.A. 82-19; 82-422, S. 10, 14; P.A. 85-124, S. 1; P.A. 95-158, S. 2; P.A. 96-200, S. 15; P.A. 98-10, S. 22; P.A. 16-117, S. 1; P.A. 23-84, S. 21.)
History: P.A. 82-19 and P.S. 82-422 both increased the amount a defrauded consumer could recover on a claim from $10,000 to $25,000; P.A. 85-124 provided that compensation may be recovered upon approval by the commission of an application for compensation, rather than upon a court order; P.A. 95-158 added references to “real estate” for clarity to specify the types of transactions and claims applicable under this section; P.A. 96-200 substituted “salesperson” for “salesman”; P.A. 98-10 made a technical change; P.A. 16-117 deleted “, trickery”, effective July 1, 2016; P.A. 23-84 substituted reference to Sec. 20-324i for reference to Sec. 20-324j, substituted references to real estate licensee for references to real estate broker and real estate salesperson, and made a technical change, effective April 1, 2024.
Cited. 189 C. 162; 192 C. 439.
Source: official Connecticut text · Last verified 2026-08-27
Frequently Asked Questions About Connecticut § 20-324a
What does Connecticut General Statutes § 20-324a cover?
Section 20-324a ("Real Estate Guaranty Fund.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 20-324a?
A common citation format is "Connecticut General Statutes § 20-324a" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 20-324a apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
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