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Returning security deposit to multiple tenants on one lease.

I rented a house out to 3 young men a year ago.  The lease reverted to a month to month at the end of the lease.  I need to refund the security deposit but have a problem and am not sure how to handle.  Two boys on the lease have moved out and the last boy wants to renew lease with 2 other people now.  The final walk thru was only attended by the one boy wanting to stay.  He claims the other 2 boys said the security depost can stay with him on the house. I informed him to get that in writing or have them come to the final inspection or contact me.   I tried to contact the other 2 boys and inform them of the final inspection date but was not able to locate them.   (They also did not give me notice of their intent to move out)  The boy wanting to stay came to the inspection. He also signed the the final inspection report.  The balance of the security deposit being returned, does it have to be made payable to all 3 boys with the word AND between their names  or can it be payable to the 3 boys using OR  between their names?    
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