Sec. 4. (a) If a state in default fails to cure the default, the defaulting state's membership in this compact may be terminated upon an affirmative vote of a majority of the administrators, and all rights, privileges, and benefits conferred by this compact may be terminated on the effective date of termination.
(b) A cure of the default does not relieve the offending state of obligations or liabilities incurred during the period of default.