Big East Conference Bylaws (PDF) | The Boneyard
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Big East Conference Bylaws (PDF)

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I read them a year or so ago... I might take a peek this weekend again to see if anything has changed. Essentially, dissolving the conference takes a 2/3 majority vote by "full members" - football onlies have no say from what I recall.
 
Scanned through it and it reads just like most media outlets explained the situation, Temple is considered an affiliate member for now so therefore does not have a vote, that leaves Uconn, Cincy, USF and the 7 catholics as voters. That gives them enough votes to dissolve the league and it sounds like the manner in which the assets of the league are divided (I am assuming the name and NCAA tourney bid are part of the assets) is just put up to a majority vote. So in other words the name and bid is leaving with the BB schools.

Something I found interesting when reading the article was the part about the withdrawl fee, Air Force was mentioned and it sounded like the conference really thought they were going to be a member. Guess I didnt realize that they were actually that close to joining.
 
Article 1.01 Purposes. The Conference is organized exclusively for charitable and educational purposes within the meaning of Section 501(c)(c) of the Internal Revenue Code of 1986, as amended (the "Code") to assist its Members in the administration of intercollegiate athletics programs in accordance with the highest standards of education, sportsmanship and healthy athletic competition compatible with resource allocation while allowing a degree of institutional flexibility. (emphasis added)

Bullsh!t.
 
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