Section 9-7-3-3.11 - RECORDSA. Each institution shall develop and maintain adequate records pertaining to students' and the institution's administrative operations. These records shall include, but are not limited to the following:a. Student attendance for each individual course meetingc. Student academic recordsf. Student enrollment contractsg. Financial aid informationh. Job placement service informationi. Programs of study and individual coursesj. Graduation informationm. Student financial records (tuition, fees, payments, refunds, etc.)r. Instructional supplies and equipments. Library and/or other instructional resourcesB. A permanent academic record (transcript) of each student's progress shall be maintained. The transcript shall indicate student accomplishment in terms of clock-hours, units of credit, or some other recognized system compatible with the institution's philosophy and objectives. The grading system used to evaluate student performance shall be fully explained on the transcript. The document must be signed and dated by a school official. These records shall be maintained permanently in a digital database by the school, its successors, or a repository.C. Each institution shall maintain a listing of all students who enroll. This listing shall include but is not limited to, each student's name, address, telephone number (if in existence), social security number or student id number, programs of study, start date, and anticipated graduation date. This information should be current as of the date on which the student enrolls and shall be available for inspection by, or submission to, the commission.D. Each institution that has an arbitration clause shall have students specifically acknowledge their understanding of any arbitration clauses placed in any enrollment contract or document with a signature or initials.E. All financial and admission records must be maintained for five years from the last date of attendance. The institution is responsible for the proper destruction of student records. Records and reports pertaining to students and staff shall be maintained so that they will be safe from theft, fire, or other possible loss.F. In the event that an institution closes its facility, the commission must be informed of the following within 60 days prior to closure:a. The location of all student records; andb. Information on how students may obtain their records.c. Permanent student records should be transferred to the Commission or their record designee within ten days of cessation of operation. The school should arrange with Staff prior to the closure.i. Records should be transferred electronically in a secure format, unless other arrangements are approved by Staff.ii. Permanent records are defined as student transcripts. Copies of diplomas or certificates will also be accepted as part of permanent records.iii. The closed school is responsible for arranging with Staff secure transmission of the records.9 Miss. Code. R. § 7-3-3.11