Section 10-1-401 - Limitation of actions; right to set off damages or penalties not limited(a) No private right of action shall be brought under this part: (1) More than two years after the person bringing the action knew or should have known of the occurrence of the alleged violation; or(2) More than two years after the termination of any proceeding or action by the State of Georgia, whichever is later.(b) Damages or penalties to which a person is entitled pursuant to this part may be set off against the allegation of the person to the seller and may be raised as a defense to a suit on the obligation without regard to the time limitations prescribed by this Code section.Amended by 2015 Ga. Laws 187,§ 2, eff. 7/1/2015.