American Football Rules IFAF Approved Ruling 3-3-2:V

V. Late in the second or fourth quarter, Team A has second and eight. B44 intercepts a legal forward pass and carries the ball out of bounds. B79 is in the neutral zone at the snap. When the game clock is stopped it reads (a) 2:00, or (b) 1:59. RULING: Team A accepts the penalty and retains possession of the ball. In both (a) and (b) if there is a two-minute warning, the game clock will start on the snap. Otherwise, the game clock starts on the referee’s signal, because Team B will not next snap the ball. [Cited by 3-3-2-d-3]