When an instrument is payable to joint payees, the endorsement only needs to be by the first payee.

Joint Payees

Joint Payees are individuals or entities named together on a check or document as the recipients of money or payment.

Endorsement

The act of signing one's name on the back of a check or other negotiable instrument, or adding a provision to an insurance policy, indicating approval or transfer of rights.

Payee

The individual or entity to whom money is paid or owed, especially in the context of checks or electronic transfers.