(1) Subject to subsection (2) of this section, the holder of property presumed abandoned shall send to the apparent owner notice by first -class United States mail that complies with KRS 393A.280 in a format acceptable to the administrator not more than one hun dred eighty (180) days nor less than sixty (60) days before filing the report under KRS 393A.220 if: (a) The holder has in its records an address for the apparent owner which the holder's records do not disclose to be invalid and is sufficient to direct th e delivery of first-class United States mail to the apparent owner; and (b) The value of the property is fifty dollars ($50) or more. (2) If an apparent owner has consented to receive electronic -mail delivery from the holder, the holder shall send the noti ce described in subsection (1) of this section both by first -class United States mail to the apparent owner's last -known mailing address and by electronic mail, unless the holder believes that the apparent owner's electronic-mail address is invalid.
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