Section 108. An officer or noncommissioned officer of the armed forces of the commonwealth to whom monies or public property are at any time issued may be required to give bond to the commonwealth, in an amount and with such sureties as may be determined by the adjutant general and conditioned upon the faithful performance of the duties of the officer, accounting properly for all monies or property received by virtue of the assignment and duties during the term of the bond and turning over to the immediate successor of the officer or other officer designated by the adjutant general all records, reports, monies or property for which the officer is accountable as provided in section 112.