Can someone please explain this to me and why is it needed? This is from The Law on Negotiable Instruments. I need explanation and example that is detailed thank you!

Section 158 Protest before maturity where acceptor insolvent. Where the acceptor has been adjudged a bankrupt or an insolvent or has made an assignment for the benet of creditors before the bill matures, the holder may cause the bill to be protested for better security against the drawer and indorsers