I see that this has already been resolved, but will put in my two cents.
This is totally illegal! A photograph automatically holds a copyright the moment it is taken.
For Example: I am a Photographer - As soon as I take the photograph, I hold the copyright to that photograph, unless I release it (written release required). My customers are not allowed to even print that picture unless they have a written copyright release from me. Places like Walmart or Sams will not even print a photo if it looks to be professional. They require a copyright release to be signed before they will print it. If Walmart or Sams prints without my release, they could be sued and I would win.
Of course, many of the photos on Facebook are not by professionals. However, the same holds true - the person that takes the photograph holds the copyright, unless there is a signed release. The fact that the yearbook is being SOLD, especially makes this illegal. I believe the school would ultimately be held accountable for this, but I wouldn't chance it with your daughter.
To those who stated that they thought it is okay to take a photo if it is on the internet - that is absolutely not true! It is a breach of copyright law unless you have a signed release. Hope that helps!