I believe that's correct. The following quote is not from an official hoops site, but I see no reason to doubt its accuracy:
"...Players and coaches may only call timeouts when the ball is dead, or when the ball is live and their team has sole possession. For example, a coach or player may call a timeout after making a basket, since the ball is dead, but not after the opposing team has picked up the ball for the ensuing in-bounds play, since the ball then has become live..."
Read more: http://www.livestrong.com/arti.../#ixzz2IB4dfqWHThey laughed when I said I was going to be a comedian. They're not laughing now. -Bob Monkhouse (1928-2003)
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