by Randy Carey:
Whoever is authorized to currently transact business with the bank via a properly executed corporate resolution or similar document is authorized to take whatever action the company wishes to do with the bank according to the instructions contained within that resolution. An individual who is no longer with the company has no right to act on behalf of the company. I am not sure what the affidavit of forgery is going to buy the bank, as if you are past your midnight deadline for return, you are going to be stuck with the loss regardless. Unless, of course, you can track down the actual counterfeiter.
by Ken Golliher:
Two signatures are required by contract, Randy's and Ken's. If Randy signs an affidavit saying his signature is forged, the drawee bank's liability for paying the item is fixed regardless of whether Ken's signature is forged; i.e. you only need an affidavit from the person whose signature was forged.