Home team bench ... rule ???

[bobbrix]

Another odd one for you wise folks:

Is there an actual rule that states what side the home team bench is supposed to be on ??

Did some net searching today, and see a lot of "home team bench is on 1st base side". I always thought the home
team was supposed to sit on the 3rd base side.

SO:

1) Is there a rule ?

2) How is being on the first base side more of an advantage
than sitting on the 3rd base side ???