If she's not on the ballot, delegates could try to vote for her, but it's going to depend on the delegation chair whether or not she actually takes votes away from Mitt.
The delegation chair, has discretion in how the votes are announced; to what degree depends on the state. If there are Mitt, or even Paul-bound delegates trying to vote for Palin, the chair may decide to go ahead and cast the bound votes as they were bound. If the delegation chair accepts their vote, it would be equivalent to an abstention on the first ballot (votes only count towards the official tally if the candidate is on the ballot), and that would help trigger an open convention.
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