The provisions of Articles 48 and 62 of this Chapter and of Article 4 of Chapter 97 of the N.C. Gen. Stat. do not apply to any risks retained by local governments pursuant to this Article. (1985 (Reg. Sess., 1986), c. 1027, s. 26; 1987, c. 441, s. 18; 1993, c. 504, s. 16.)