A. Each school shall maintain accurate and complete records on each student enrolled in the school.
B. Each school shall keep records of:
(1) The student's name and permanent address.
(2) The date the student began instruction at the school.
(3) The student's enrollment agreement.
(4) The student's academic transcript data, including the date of last instruction or of program completion.
(5) Financial records showing all tuition amounts paid to the school by or on behalf of a student.
(6) Other information required by the board.
C. The records shall be kept current and on file at the school and be available for inspection by the commissioner of higher education or his designee upon request.
D. If a school ceases operations, the records shall be transferred electronically in a secure format, unless the board approves transfer by hard copy, to the board within ten days of cessation of operation. If records are seized or confiscated by those legally authorized, a copy of all records of students affected by the cessation of operation shall be sent to the board.