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A lot. Are you planning it? Or are you just asking about going to one?
In general, it's just a formal dinner/dance, usually in a hotel ballroom. You get dressed up & take your date. It may be covered in dues, or it may cost you up to a couple hundred to go. There probably are some local traditions about a cooler full of goodies or something like that.
For sure talking to some older members would help clue you in.
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