The payee of a bill may at his own expense request the drawer to issue and draw the bill in a set. However, if the request is made by a holder other than the payee, the holder shall do so through all parties prior to him individually in reverse order who are required to add their endorsements identically to each part of the set.
The bill drawn in a set referred to in the preceding paragraph shall be limited to three parts per set.

If a bill is drawn in a set, each part of the set shall be marked distinctly with the words "Bill in a set" and serially numbered. If any part of the set is not so marked and numbered, it is deemed to be a separate bill.

If one part of a bill drawn in a set is discharged by payment, the other parts shall cease to be operative. However, an acceptor who accepts one part of the bill drawn in a set without requiring the other parts to be delivered up to him shall remain personally liable on the other parts.
If an endorser negotiates two or more parts of a bill drawn in a set to two or more different persons, the endorser shall be liable on any of the parts that has been endorsed by him but not surrendered to him.
If a bill drawn in a set is negotiated by endorsement to one person in its entirety, the endorser may, at the time of discharge by payment, request the holder to surrender all parts of the bill. But this provision shall not apply if the holder has furnished a guarantee bond or provided security for the bill.

If one part of a bill drawn in a set is presented for acceptance, the personal or business name and address of the acceptor shall be specified in every other parts of the bill.
If a bill contains the particulars referred to in the preceding paragraph, the holder may require the acceptor to surrender the part accepted by the acceptor.
If the acceptor refuses to surrender, the holder may not exercise his right of recourse unless a protest is made in attestation to the following facts:
1. That the acceptor has failed to surrender the part accepted by him in spite of the holder's request.
2. That presentment for acceptance or payment made with another part of the bill has been dishonored.