Authorization; administration; bond of custodian; distribution on disbandment of unit
Section 96. Organization and unit funds shall be maintained and conducted as the commander-in-chief may prescribe in regulations. The administration of such a fund by the officer designated in regulations to have the custody thereof shall be one of the duties pertaining to his office and for the proper performance of which he shall furnish bond to the commonwealth. Suit on the bond of such officer to recover for any misappropriation of the fund shall be brought in the name of the commonwealth for the benefit of the organization or unit affected. Upon the disbandment of any organization or unit maintaining a fund as above provided, the adjutant general shall at once become custodian or treasurer thereof and shall distribute said funds to such organizations or units as he may determine to be equitably entitled thereto, or, if no organization or unit is so entitled, shall draw a check for the total amount on deposit in favor of the state treasurer, who shall hold such funds or shall expend them as the general court may prescribe; except in the case of organizations or units ordered into the active service of the United States, the adjutant general may act as custodian of such funds during the period of active federal service.