(a) A person commits the offense of defrauding a materialman if, being the principal contractor or subcontractor, the person knowingly or wilfully with the purpose to defraud fails to pay any supplier or subcontractor for a material or good furnished to the project within thirty (30) days of final receipt of payment under the contract.
(b) Defrauding a materialman is a:
(1) Class D felony if the amount is equal to or greater than five thousand dollars ($5,000); or
(2) Class A misdemeanor if otherwise committed.
(c) This section does not apply to a principal contractor or subcontractor covered by § 22-9-101 et seq.
(d) It is an affirmative defense to prosecution under this section that the contractor or subcontractor has given notice of a dispute in a term, condition, payment, or quality of good to the contracting consumer or to the supplier or subcontractor, or the contractor has in good faith sought relief in federal court under the bankruptcy laws of the United States, prior to the expiration of the thirty (30) days after receipt of payment under the contract.