(a) An emergency order may be issued only when the commission believes that:

(i) Any person has willfully failed to report, pay or truthfully account for and pay over any license fee or tax imposed by the provisions of this chapter or willfully attempted in any manner to evade or defeat any such license fee, tax or payment thereof;

(ii) Any person has cheated at any gambling game;

(iii) There has been a violation of subsection (1) of Section 75-76-57;

(iv) Such action is necessary for the immediate preservation of the public peace, health, safety, morals, good order or general welfare.

(b) The emergency order must set forth the grounds upon which it is issued, including a statement of facts constituting the alleged emergency necessitating such action.

(c) An emergency order may be issued only with the approval of and upon signature by not less than two (2) members of the commission.

(d) The emergency order is effective immediately upon issuance and service upon the licensee or resident agent of the licensee or, in cases involving registration or findings of suitability, upon issuance and service upon the person or entity involved or resident agent of the entity involved. The emergency order may suspend, limit, condition or take other action in relation to the license of one or more persons in an operation without affecting other individual licensees or the licensed gaming establishment. The emergency order remains effective until further order of the commission or final disposition of the case.

(e) Within five (5) days after issuance of an emergency order, the executive director shall cause a complaint to be filed and served upon the person or entity involved. Thereafter, the person or entity against whom the emergency order has been issued and served is entitled to a hearing before the commission and to judicial review of the decision and order of the commission thereon.