Section 6(2)(d) in Karnataka Co-Operative Societies Act, 1959
(d)where the objects of the co-operative society include the creation of funds to be lent to its members and where all the applicants are individuals, the applicants shall reside in the same village or town [or in the proposed area of operation of the co-operative society] [Substituted by Act 25 of 1998 w.e.f. 15.8.1998.] or belong to the same class or pursue the same occupation;