[Farm93]

The answer is "sort of". The committee operates under agreed-upon guidelines. The committee set the guidelines and the conferences agreed to them. I am sure there is no real "article 50 exit" clause in that agreement. However, if the guidelines are violated in an obvious way, I believe there would be enough hated and discontent generated that the idea of a selection committee wouldn't survive it. 

They SHOULD give consideration to conference champions, but that's not been super strong to date.  The SEC has a good chance at two teams because of that very real "SEC gets everything" clause in the agreement.

Bama probably beats out Utah, if 12-1 Utah only beats a two loss Oregon team in the Pac-12 CG.
Bama probably beats out Clemson if Clemson wins the ACC, but loses big to South Carolina.

I have no doubt that should 12-0 tOSU lose to an undefeated Minnesota in the BigTen CG, then tOSU would have a great case to also bump out the Pac-12 given the quality of teams in their BigTen division.   

If Utah is the 12-1 Pac-12 CG I honestly do not expect they will go, and I live in Pac-12 territory.   I am sure folks in the SEC have no doubt that any/every 1-loss SEC team beats out every Pac-12, Big-12 and ACC champs with one loss.

[Farm93]

The answer is "sort of". The committee operates under agreed-upon guidelines. The committee set the guidelines and the conferences agreed to them. I am sure there is no real "article 50 exit" clause in that agreement. However, if the guidelines are violated in an obvious way, I believe there would be enough hated and discontent generated that the idea of a selection committee wouldn't survive it. 

They SHOULD give consideration to conference champions, but that's not been super strong to date.  The SEC has a good chance at two teams because of that very real "SEC gets everything" clause in the agreement.

Bama probably beats out Utah, if 12-1 Utah only beats a two loss Oregon team in the Pac-12 CG.
Bama probably beats out Clemson if Clemson wins the ACC, but loses big to South Carolina.

I have no doubt that should 12-0 tOSU lose to an undefeated Minnesota in the BigTen CG, then tOSU would have a great case to also bump out the Pac-12 given the quality of teams in their BigTen division.   

If Utah is the 12-1 Pac-12 CG I honestly do not expect they will go, and I live in Pac-12 territory.   I am sure folks in the SEC have no doubt that any/every 1-loss SEC team beats out every Pac-12, Big-12 and ACC champs with one loss.