Section 2
SEC. 2. Paragraph (e) of section one of Act Numbered Three hundred and three is hereby amended by striking out the words beginning with "upon" in the second line and ending with "moneys" in the fifth line, and inserting in lieu thereof the following words: "Upon the election of a new president and vice-president an accounting shall be and between the incoming and the outgoing municipal officers, and each of the latter shall turn over to his successor in office all municipal books, records, accounts, and moneys in his possession."