(a)
(1) As used in this subchapter, “contractor” means a person, firm, joint venture, partnership, copartnership, association, corporation, or other organization engaged in the business of the construction, alteration, dismantling, demolition, or repairing of roads, bridges, viaducts, sewers, water and gas mains, streets, disposal plants, water filters, tanks, towers, airports, buildings, dams, levees, canals, railways and rail facilities, oil and gas wells, water wells, pipelines, refineries, industrial or processing plants, chemical plants, power plants, electric, telephone, or any other type of energy or message transmission lines or equipment, or any other kind of improvement or structure.
(2) As used in this subchapter, “contractor” includes:
(A) All original, prime, and general contractors; and
(B) A contractor who is required to obtain a contractor's license or registration under the state licensing law of this state, § 17-25-101 et seq.
(b) However, when a person or entity acts as a contractor in the construction, erection, alteration, or repair of his or her own or its own property or of a single-family residence, or if the cost of the work to be done, including, but not limited to, labor and materials, is less than fifty thousand dollars ($50,000), the person or entity shall not be deemed a contractor under this chapter.