(a) Notwithstanding any other provisions of this chapter, the governing board of a system may:
(1) self-insure a plan provided under this chapter; and
(2) hire a carrier to administer the system's uniform program.
(b) A plan for which a system provides coverage on a self-insured basis is exempt from any other insurance law of this state that does not expressly apply to that plan or this chapter.
(c) Expenses for the administration of a self-insured plan may come from the contributions of employees and the state after payments for any coverage provided under this chapter have been made.