Like Statement With Multiple Values

I have a field that may look like this:

AS01 AB CD EF

I want to check to see if that string contains any of the values in:

select code from codes_table;

For example, if

select code from codes_table;

returns:
code
-----
AB
LM
NO
PQ

then the query should return 'True'. Using the string above it would return 'True' because 'AB' from the string exists in the table codes_table. Pseudocode would look something like this I guess:

if the input string
contains any of the codes
in the field 'code' from table 'codes_table'
then
'OK'
otherwise
'No good!'