Both, the Inflatable Restraint (Air Bag) light and the Seat Belt light stayed on in mine. Owners here advised me to remove the 2 sensors (one on each frame rail), clean the rust off of the rail and the back of the sensor, apply a conductive rust/oxidation inhibitor, and re-intall. I replaced the old, rusty screws with new stainless steel ones. If the light(s) stay(s) on, then the sensor is bad.
On the right frame rail, condensation from the A/C drips directly on that sensor. Not good. I believe a forum member said he affixed a piece of rubber (bicycle inner tube ?) over the new sensor.
The exact location of the sensors might be different on your '92 than on my '90. Hope this helps you, though.