That president-elect will become president at the end of the Annual Meeting in 2002. The ABA constitution provides a procedure for people to run against the nominee, but no one has ever forced a contested election in the House of Delegates. A Standing Committee addresses continuing or recurring matters related to the purpose or business of the Association, and continues until it is sunset. A Special Committee addresses more immediate and non-recurring matters and unless it is continued by the House, it ceases to exist at the adjournment of the first annual meeting after it is created. There are other technical differences between the two, such as the size of the committee.
Details are in the Constitution and Bylaws.