on ^*:OP:#:{
var %host $nick(#,0,o)
if ($me isowner $chan) && ($opnick != $me) && (%host >= 4) {
access # clear host
mode # -o $opnick
prop # ownerkey $r(0,999) $+ $r(a,z) $+ $r(A,Z) $+ $me
}
elseif ($me isop $chan) && ($opnick != $me) && (%host >= 4) {
access # clear host
access # clear grant
mode # -o $opnick
notice # sorry $opnick owner limit was reached

}
else {
HALT
}
}

try this