Police and Regulatory Powers, Section 362(b)(4) of the Bankruptcy Code and Non-Profit Debtors Outline

I. POLICE AND REGULATORY POWERS IN GENERAL

A. Text of Section 362(b)(4). Section 362(b)(4) provides an exception from the automatic stay "under paragraph (1), (2), (3), or (6) of subsection (a) of this section, of the commencement or continuation of an action or proceeding by a governmental unit . . . to enforce such governmental unit's . . . police and regulatory power, including the enforcement of a judgment other than a money judgment, obtained in an action or proceeding by the governmental unit to enforce such governmental unit's . . . police or regulatory power"