Sec. 14. When the executive's term of office expires, the former executive shall:
(1) immediately deliver to the new executive custody of all funds and property of the township, except records necessary in the preparation of the former executive's annual report;
(2) deliver to the new executive, not later than the second Monday in the next January, the former executive's annual report and any records the former executive has retained; and
(3) attend the annual meeting of the township legislative body held under IC 36-6-6-9 and submit to inquiries from the legislative body concerning the operation of the executive's office during the preceding calendar year.