When can you apply for L-1

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Registered Users (C)
Guys,

If one stayed out of the US for 1 year, can L-1 be applied:

1. Only after the completion of 365 days? OR
2. Prior to the completion of 365 days but with an effective date after the completion of 365 days? For example apply around 330 days (like a month before) or something like that.

Thanks in advance for your insights.
 
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