Forged or unauthorized indorsement
Forged or unauthorized indorsement means:
(1) An indorsement of the payee's name by another person who is not authorized to sign for the payee; or
(2) An indorsement of the payee's name made by another person who has been authorized by the payee, but who has not indorsed the check in accordance with ยงยง 240.4 and 240.13 through 240.17; or
(3) An indorsement added by a financial institution where the financial institution had no authority to supply the indorsement; or
(4) A check bearing an altered payee name that is indorsed using the payee name as altered.