Not more than 120 days or less than 30 days before the filing of the report required under § 17-310 of this subtitle, the holder in possession of presumed abandoned property shall send a written notice by first-class mail to the apparent owner of presumed abandoned property valued at $100 or more to the owner’s last known address informing the owner that:

(1) The holder is in possession of property subject to the provisions of this title; and

(2) The property will be considered abandoned unless the owner responds within 30 days of the notification to the holder.