N.Y. EPT Law § 10-10.7

§ 10-10.7 Exercise of powers by multiple fiduciaries; joint and several\n powers\n Unless contrary to the express provisions of an instrument affecting\nthe disposition of property, a joint power other than a power of\nappointment but including a power in a trustee to invade trust principal\nunder section 10-6.6 of this article or under the terms of the\ndispositive instrument, conferred upon three or more fiduciaries, as\nthat term is defined in 11-1.1, by the terms of such instrument, or by\nstatute, or arising by operation of law, may be exercised by a majority\nof such fiduciaries, or by a majority of survivor fiduciaries, or by the\nsurvivor fiduciary. Such a power conferred upon or surviving to two such\nfiduciaries may be exercised jointly by both such fiduciaries or by the\nsurvivor fiduciary, unless contrary to the express terms of the\ninstrument creating the power. A fiduciary who fails to act through\nabsence or disability, or a dissenting fiduciary who joins in carrying\nout the decision of a majority of the fiduciaries if his or her dissent\nis expressed promptly in writing to his or her co-fiduciaries, shall not\nbe liable for the consequences of any majority decision, provided that\nliability for failure to join in administering the estate or trust or to\nprevent a breach of the trust may not thus be avoided. A power vested in\none or more persons under a trust of real property created in connection\nwith the salvaging of mortgage participation certificates may be\nexecuted by one or more of such persons as provided in such trust. This\nsection shall not affect the right of any one of two or more personal\nrepresentatives of a decedent to exercise a several power.\n