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A retired federal judge will oversee state New jersey Senate President Richard J. Codey’s insurance agency during the Essex County Democrat’s tenure as acting governor. Codey has signed a blind trust agreement that names Nicholas H. Politan sole trustee of the Olympic Agency Inc. in West Orange, giving Politan authority to act as chairman of the board and the power to sell, merge or consolidate the company. Codey severed ties to his insurance business and asked the state Department of Banking and Insurance to suspend his insurance license. “Even though these actions are not required under law because I’m governed by the Legislative Code of Ethics, I’ve removed myself completely from the day-to-day activities of my company and will receive no income from my business in order to eliminate any appearance or actual conflict of interest while I’m acting governor,” he said. Codey will fill the 14 months remaining of Gov. James E. McGreevey’s term, beginning Nov. 16.