Mass. Gen. Laws ch. 33 § 96
Organization and unit funds, subject to available appropriations, shall be maintained and conducted as the adjutant general may prescribe in regulations. The administration of the funds by the officer designated in regulations to have custody of the funds shall be a duty of the office of the officer. Upon the disbandment of any organization or unit maintaining a fund as provided in this section, the adjutant general shall immediately become custodian or treasurer of the fund and shall distribute the funds to organizations or units as the adjutant general may determine to be equitably entitled to the funds 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 the funds or shall expend them as the general court may prescribe; provided, however, that in the case of organizations or units ordered into the active service of the United States, the adjutant general or a designee may act as custodian of the funds during the period of active service of the United States.
Mass. Gen. Laws ch. 33, § 96