Watchin' for the laws with the judges on call
Shuck and jivin to get by with this pistol in my drawers
The first line is pretty you obvious, the narrator is watching out for the authorities (be they cops, feds, whoever) and using corrupt members of the government to keep him informed and out of trouble. The second line is the kicker though. The literal definition of “shucking and jiving” just means joking, telling half truths, and plain bullshitting to keep someone in charge from jamming you up and having a pistol means that if he can’t talk his way out, he’s ready to shoot it out too. But it goes further than that, shucking and jiving is an old stereotype associated with black people in America, so he’s also saying he’s fulfilling stereotypes, because it’s the only way to get by for him.
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