Upon the termination of any emergency for which the National Guard of Arkansas has been ordered into the military service of the United States, all enlisted personnel, upon being released under honorable conditions from the Army or Air Force of the United States, shall continue to serve in the National Guard of Arkansas until the dates upon which their enlistments prior to their active duty would have expired if uninterrupted. The commissioned officers shall resume their commissions in the National Guard of Arkansas in the respective grades held by them when ordered to active duty or in any higher grade which they may have attained while in service if appointed by the Governor to fill existing vacancies.