(a) (1) When an aggrieved person obtains either (A) a final judgment in a court of competent jurisdiction, including, but not limited to, a criminal restitution order issued pursuant to subdivision (f) of Section 1202.4 of the Penal Code or Section 3663 of Title 18 of the United States Code, or (B) an arbitration award that includes findings of fact and conclusions of law rendered in accordance with the rules established by the American Arbitration Association or another recognized arbitration body, and in accordance with Sections 1281 to 1294.2, inclusive, of the Code of Civil Procedure when applicable, and when the arbitration award has been confirmed and reduced to judgment pursuant to Section 1287.4 of the Code of Civil Procedure, against a defendant based upon the defendantâs fraud, misrepresentation, or deceit with intent to defraud, and arising directly out of any transaction in which the defendant, while licensed under this part, performed acts for which a real estate appraiserâs license was required, the aggrieved person may, upon the judgment becoming final, file an application with the bureau for payment from the Recovery Account, within the limitations specified in Section 11418, of the amount unpaid on the judgment that represents an actual and direct loss to the claimant in the transaction. (2) As used in this section, âactual and direct lossâ excludes all of the following: (A) Punitive or exemplary damages. (B) Legal fees, attorneyâs fees, court costs, or arbitration fees. (C) Nonpecuniary damages, such as inconvenience, aggravation, and emotional distress. (b) The application shall be delivered in person, by certified mail, or electronically in a manner prescribed by the bureau, to an office of the bureau no later than one year after the judgment has become final. (c) The application shall be made on a form prescribed by the bureau, verified by the claimant, and shall include the following: (1) The name and address of the claimant. (2) If the claimant is represented by an attorney, the name, business address, and telephone number of the attorney. (3) The identification of the judgment, the amount of the claim and an explanation of its computation. (4) A detailed narrative statement of the facts in explanation of the allegations of the complaint upon which the underlying judgment is based. (5) (A) Except as provided in subparagraph (B), a statement by the claimant, signed under penalty of perjury, that the complaint upon which the underlying judgment is based was prosecuted conscientiously and in good faith. As used in this section, âconscientiously and in good faithâ means that no party potentially liable to the claimant in the underlying transaction was intentionally and without good cause omitted from the complaint, that no party named in the complaint who otherwise reasonably appeared capable of responding in damages was dismissed from the complaint intentionally and without good cause, and that the claimant employed no other procedural means contrary to the diligent prosecution of the complaint in order to seek to qualify for the Recovery Account. (B) For the purpose of an application based on a criminal restitution order, all of the following statements by the claimant: (i) The claimant has not intentionally and without good cause failed to pursue any person potentially liable to the claimant in the underlying transaction other than a defendant who is the subject of a criminal restitution order. (ii) The claimant has not intentionally and without good cause failed to pursue in a civil action for damages all persons potentially liable to the claimant in the underlying transaction who otherwise reasonably appeared capable of responding in damages other than a defendant who is the subject of a criminal restitution order. (iii) The claimant employed no other procedural means contrary to the diligent prosecution of the complaint in order to seek to qualify for the Recovery Account. (6) The name an
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