(1) When a bill payable to order on demand is drawn on a banker, and the banker on whom it is drawn pays the bill in good faith and in the ordinary course of business, it is not incumbent on the banker to show that the indorsement of the payee or any subsequent indorsement was made by or under the authority of the person whose indorsement it purports to be, and the banker is deemed to have paid the bill in due course, although such indorsement has been forged or made without authority. (Amended by Act 50 of 1953)
(2) A draft or order drawn by a banker on the head office or on a branch of his or her bank in Saint Lucia for a sum of money payable to order on demand shall be deemed to be a bill for the purposes of this article.