The direct answer to your question is yes. The SFO’s trace their history back to Francis himself. We believe the original “way of life” was the 1st Letter to the Faithful. You can read it on your own. Then there is a series of Rules they follow which culminates in the separation of the Third Order Secular and the Third Order Regular. The seculars being lay people and the Regulars being the religious. This happens in 1519 if memory serves me.
Then the Seculars get their own history which is winding and ends up in ’78 as has been mentioned, with the establishment of a new rule and new constitutions in 1990. The ’78 Rule was written by a team of international TORs. It’s far less legalistic than the previous versions which tended to be the Pope saying “this is what you mean” and not really understanding what they want. The popes try to do the same thing to Francis and Clare as well.
Pre 1990 they were administratively under the different Franciscan branches.