A vessel is abandoned on the premises of a vessel storage or repair business when all of the following conditions have been satisfied:
(1) the service requested or required by a person whose vessel is towed or brought to a vessel storage or repair business, including towing and rendering estimates of the cost of repairs, has been performed;
(2) no authorization is given to perform any further service with respect to the vessel, but the vessel is left on the storage or repair business premises;
(3) the owner of the storage or repair business or the business owner's authorized representative has given notice by registered or certified mail, with a return receipt, to the registered owner of the vessel at the address on record at the vessel storage or repair business and the address on record in a state agency or the United States Coast Guard, and to any person with a recorded interest in the vessel, stating that, if the vessel is not repossessed within 30 days after the mailing of the notice, it will be sold or disposed of; the notice also must contain a description of the vessel and its location, and it need not be sent to an owner or a person with an unrecorded interest in the vessel whose name or address cannot be determined; and
(4) the vessel is not repossessed within the 30-day period specified in (3) of this section.