The question is, can an Air Guard COL sign and be responsible for Army equipment?
The answer is yes, with the condition that the Air Guard COL must be Federally recognized. Reference is made to Army Regulation 735-5, Policies and Procedures for Property Accountability, dated 28 February 2005, page 6.
2–10. Appointment of an accountable officer
a. An accountable officer may be —
(1) Any DOD commissioned officer or warrant officer. (Army National Guard (ARNG) officers must be Federally recognized.)
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