Sec. 13. Upon determination that an emergency exists, the commission may consider and adopt an emergency rule without prior notice, opportunity for comment, or hearing, provided that the usual rulemaking procedures provided in the compact and in this chapter shall be retroactively applied to the rule as soon as reasonably possible, in no event later than ninety (90) days after the effective date of the rule. For the purposes of this provision, an emergency rule is one that must be adopted immediately in order to:
(1) meet an imminent threat to public health, safety, or welfare;
(2) prevent a loss of commission or member state funds;
(3) meet a deadline for the promulgation of an administrative rule that is established by federal law or rule; or
(4) protect public health and safety.