Section 3--405. Impostors; Signature in Name of Payee

(1)  An  indorsement  by  any  person  in the name of a named payee is
  effective if
         (a) an impostor by use of the mails or otherwise has induced  the
             maker  or  drawer  to  issue  the  instrument  to  him or his
             confederate in the name of the payee; or
         (b) a person signing as or on behalf of a maker or drawer intends
             the payee to have no interest in the instrument; or
         (c) an agent or employee of the maker or drawer has supplied  him
             with  the  name  of the payee intending the latter to have no
             such interest.
    (2) Nothing in  this  section  shall  affect  the  criminal  or  civil
  liability of the person so indorsing.