Quirk in NF timeout rule?

[Mark Padgett]

In another thread, Camron posted: "Only when the ball is live are there restrictions on who can call timeout....only the team that has a player control (not team control)."

This got me to thinking (which, my wife tells me, can be very dangerous). On an inbound play, the ball becomes live when at the disposal of the inbounder. However, there is no team or player control at that point, since player control is defined as holding or dribbling a live ball inbounds. Also however, the defending team may not legally be granted a TO during this time.

Is this consistent with the theory that, during a live ball, only the team in player control may legally be granted a TO?

Is there a written exception to this in NF rules?