Under state rule (available by clicking http://www.nmcpr.state.nm.us/nmac/parts/title01/01.020.0002.htm), all schools and school districts must retain transcript records, even when a school closes. The rule includes the following:
1.20.2.101 STUDENT CUMULATIVE EDUCATION RECORD FILE
D. Retention:
(1) Transcript. Cumulative achievement record equivalent for elementary and secondary school including information on school entry, withdrawal, graduation, subjects taken, grades received, high school proficiency exam score etc.: 90 years after date of high school graduation or 90 years after student concerned would normally have graduated from high school, whichever applies.