By default, this tag would be set to 0b, but if it's set to 1b (when the armor stand is summoned or using the /data command), then this armor stand will keep the chunk that it is in loaded at all times. This tag could also be available for other entities that can't move by themselves such as area effect clouds or item frames
This would be especially useful for map-makers who need to load certain chunks relative to an entity (rather than keeping only certain chunks loaded with /forceload). Essentially this would be a movable chunk loader.
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